Says Boe’s Hal­dane

Iran Daily - - Global Economy -

Brexit is dis­tract­ing Bri­tain’s gov­ern­ment and busi­nesses from the longer-term chal­lenges of boost­ing pro­duc­tiv­ity and liv­ing stan­dards, Bank of Eng­land Chief Econ­o­mist Andy Hal­dane said.

BOE Gover­nor Mark Car­ney has pre­vi­ously said Bri­tain’s econ­omy has so far prob­a­bly grown al­most two per­cent less than it would have done if vot­ers had backed stay­ing in the Eu­ro­pean Union at June 2016’s ref­er­en­dum, Reuters re­ported.

Hal­dane told a pub­lic fo­rum in Bris­tol, south­west Eng­land, that Brexit preparations were de­lay­ing longer-term work on boost­ing Bri­tain’s very weak rate of pro­duc­tiv­ity growth that set in around the time of the 2008 fi­nan­cial cri­sis.

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