Brexit: Economic Situation
The question
To ask the Chancellor of the Exchequer, what recent assessment she has made of the impact of Brexit on the economy.
Answered by Torsten Bell
The Office for Budget Responsibility (OBR) has included assessments of the economic impacts of leaving the EU in its forecasts since 2016. In March 2020, the OBR estimated that GDP will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU, and that imports and exports will eventually both be 15 per cent lower than had the UK stayed in the EU. As of November 2025, OBRs assumptions were unchanged from its previous assessment.
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