Brexit Hit to UK Economy Double Official Estimate, Study Finds

Brexit has caused almost twice as much damage to the UK economy than estimated by official forecasts, according to new paper from a group of experts including a senior Bank of England economist.

The research, which has been presented to the Office for Budget Responsibility, shows that the 2016 vote to leave the European Union has cost the country between 6% and 8% of GDP per person over the last decade, a hit of £180 billion ($235 billion) to £240 billion. The OBR, the government’s independent forecaster, puts the damage at just 4%.

The “Economic Impact of Brexit” working ...