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Brexit cuts cut productivity and wages, study claims

Brexit cuts cut productivity and wages, study claims

A study by the Resolution Foundation and the London School of Economics has concluded that Britain’s departure from the EU has damaged its competitiveness and will cut productivity and wages over the next ten years. The research claimed a fall in trade to the UK’s largest non-EU goods import markets could not be explained by the pandemic while labour productivity is expected to fall 1.3% by the end of the decade as a result just of Brexit-related changes in trading rules. This will contribute to weaker wage growth, with real pay set to be on average £470 per worker lower each year by 2030 than it would have been had the UK stayed in the EU, the report stated.

Read more: The Times

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