United Kingdom’s Brexit decision to leave the European Union (EU) has cost the government £500 million a week.
How Much Is Brexit Costing the Britain?According to a study published by Centre for European Reform, United Kingdom’s “Brexit” decision to leave the European Union (EU) has cost the government £500 million a week.
The study also said that the economy of the Britain is 2.5% smaller than it would have been if the British people had voted to remain in the bloc.
The economic effects of Brexit were a main area of debate during the Referendum, and the debate continues after the Leave vote.
There is an extensive consensus among economists that Brexit will likely reduce the UK’s real per-capita income level.
Supporters of remaining, including the UK treasury, argued that being in the EU has a solid optimistic effect on trade and as a result the UK’s trade would be worse off if it left the EU.
Supporters of withdrawal on the other hand have argued that the termination of net contributions to the EU would allow for some cuts to taxes or increase in government spending.
