Brexit is costing the UK economy $1 billion a week. And it could

Brexit is costing the UK economy $1 billion a week. And it could

  rexit has been delayed, and may eventually be called off. But it’s already done major damage to the UK economy.

  The vote to leave the European Union in June 2016 caused the pound to weaken drama

tically and ushered in years of uncertainty that has reduced economic activity and triggered a slump in investment.

  The economy is now 2% smaller than it would have been if the United Kingdom had chosen to remain in the bloc, according to the Bank of England. The econ

omic output lost since the referendum is worth about £800 million ($1 billion) per week, or £4.7 million ($6 million) per hour.

  The economic consequences have piled up despite there having been no struct

ural changes yet to Britain’s trading relationship with EU nations or the rest of the world.

  Britain has continued to sell goods and services into the European Un

ion, its biggest trading partner, while politicians worked to negotiate the divorce. It has been

easy for UK companies to hire EU workers, and to maintain supply chains that crisscross national borders

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