According to NIESR, in Britain, households are more than £600 worse off each year since Brexit, which is rather depressing reading!
“The National Institute of Economic and Social Research (NIESR) said it is “almost certain” the leave vote has damaged living standards and hit the growth potential of the economy.”
I think we all knew this really, well most of us, but seeing figures being given makes it more real. I have certainly noticed food prices increasing. They have also adjusted the projected GDP growth for the UK economy to 1.6 from 1.7%, to give this some context the global growth is expected to be 3.5%!
We have this news in advance of the expected interest increase on Thursday, it’s not good news, and this is all before any Brexit negotiations have even been agreed.
Do you think Brexit will lessen people’s spending this Christmas? Personally, I have seen an increase in interest in using small local businesses, which is taking money away from the bigger national companies. Are you worried about your business? Or are you expecting a busy Christmas this year?
https://www.theguardian.com/politics/2017/nov/01/brexit-vote-cost-niesr-economic-growth