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Brexit uncertainty is costing the average UK household more than £600 a year

Had sterling not depreciated and the economy continued to grow at its previous rate, real household disposable income might have been 2 per cent higher than now

By Garry Young  

Much has been made in the media of new estimates, published in the National Institute Economic Review, suggesting that leaving the European Union without a deal and moving to World Trade Organisation rules—the so called “hard Brexit” scenario—would add £930 to annual household bills in the future, due to tariffs being imposed on EU imports.

The NIESR’s new UK forecast, published in the same review, shows that before any kind of Brexit—soft or hard—has occurred the uncertain process of preparing for leaving is having an adverse effect on our economy. And the…

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