• Brexit to spark UK slowdown, blow hole in public purse

    Brexit to spark UK slowdown, blow hole in public purse

    Brexit will spark an economic slowdown and ravage public finances, forcing a multi-billion-pound spike in state borrowing over the next five years, a gloomy mini-budget revealed Wednesday.

    Britain is predicted to borrow an extra £122 billion ($152 billion, 143 billion euros) in the period to 2021, according to official forecasts from the Office for Budget Responsibility.

    About half of that budget black hole — or £58.7 billion — is a direct consequence of Britain’s decision to leave the European Union, according to […]