Brexit Has Had ‘Significant Adverse Impact’ on UK Trade, Fiscal Watchdog Says

From bnnbloomberg.ca

The UK’s fiscal watchdog said the decision to leave the European Union meant the country’s trade intensity was likely to be 15% lower in the long run than if Brexit had never occurred. “The latest evidence suggests that Brexit has had a significant adverse impact on UK trade, via reducing both overall trade volumes and the number of trading reationships between UK and EU firms,” the Office for Budget Responsibility said in an outlook prepared for the government as it announced its new fiscal plan. The projection will disappoint many who hoped the loss of free trade with the EU as a result of Brexit would be ... (full story)