Brexit is costing UK £1,000 per household, says Bank of England official

Business investment ‘stopped in its tracks’ by exit from EU, says central bank expert

Brexit has caused a decline in business investment which is costing the average UK household around £1,000, a leading Bank of England official has warned.

Jonathan Haskell, an external member of the central bank’s Monetary Policy Committee (MPC), said investment had been “stopped in its tracks” by the decision to leave the EU.

He revealed that the Bank had calculated that the hit to business investment has led to a drop in productivity worth about 1.3 per cent of GDP – around £29bn.