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Jonathan Haskell, a member of the Monetary Policy Committee at the Central Bank of Britain, the Bank of England, warned of a significant drop in foreign investment, which would cost every British household the equivalent of one thousand pounds sterling, or 1,210 US dollars.
Haskell revealed in a statement reported by Reuters that, according to calculations conducted by the Central Bank of England, the hit to business investments as a result of the Brexit process, according to which Britain withdrew from the European Union, led to a decrease in the level of productivity by about 1.3 percent of GDP, or about 29 billion pounds sterling. , or nearly a thousand pounds per British family.
Haskell also warned that high levels of stagnation in the labor market is a clear British problem amid the gloomy economic outlook, noting that there has been a significant drop in the number of productive people in the labor market.
Haskell considered that this decline is something unique to Britain, and that the recession in the latter looks completely different from other countries.
The Bank of England estimates that merchandise trade fell between 10 and 15 percent, which corresponds to about 3.2 percent of GDP.
The bank also noted that trade volumes have been weaker than official data indicates since January 2021, in part due to systemic interruptions that delayed customs declarations in 2021.
Haskell's warnings came at a time when the chief Brexit negotiator in the government of British Prime Minister Rishi Sunak revealed the existence of what he described as "a secret plot at the level of some government institutions to undermine the Brexit agreement," referring to a secret meeting held by various British parties at the Ditchley Park resort. last week.
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