Brexit will soon have cost the UK more than all of its payments to the EU over the last 47 years put together
Brexit will soon have cost the UK more than its combined total of payments to the EU budget over the past 47 years.A further £70 billion is likely to be added by the end of 2020, economist Dan Hanson found.Visit Business Insider's homepage for more storiesBrexit will have cost the UK more than £200 billion in lost economic growth by the end of this year — a figure which almost eclipses the total amount the UK will have paid towards the EU budget over the past 47 years.
That means the British economy is now 3% smaller than it would have been if the UK had not voted to leave the EU.put the UK's total projected contribution towards the EU budget between 1973 and 2020 at £215 billion after adjusting for inflation. The UK is set to leave the EU on January 31 after Boris Johnson's election victory in December. But business confidence and investment has dipped, meaning annualised economic growth has fallen from 2% to 1%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK and Germany condemn arrest of Britain's Tehran ambassador - UK PM's officeBritish Prime Minister Boris Johnson and German Chancellor Angela Merkel condemn...
Read more »
Global banks urge EU to 'improve' market access as Brexit loomsInternational banks have called on the European Union to make its system for fin...
Read more »
US tells UK using Huawei 5G gear would be 'nothing short of madness,' report saysThe United States is reported to have presented Britain with new evidence showing the use of Huawei equipment in its 5G networks would put intelligence sharing at risk.
Read more »
Britain bans UK consumers from using credit cards to gambleBritain's 24 million adult gamblers will not be able to use credit cards to...
Read more »
UK government to consider cutting air passenger tax to help Flybe: mediaBritain could cut air passenger taxes on domestic flights to help rescue struggl...
Read more »