The Brexit process has cut the productivity of British companies by between 2% a...
LONDON - The Brexit process has cut the productivity of British companies by between 2% and 5% since the 2016 vote to leave the European Union, according to a research paper published by the Bank of England on Friday.
“We also find evidence for smaller negative between-firm effects as more productive, internationally exposed, firms have been more negatively impacted than less productive domestic firms,” the authors wrote. Proponents of Brexit say Britain’s economy, the world’s fifth largest, will be able grow faster and with more dynamism after it leaves the EU and uncertainty subsides.
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