Daily Express

‘Significan­t shock’ from Brexit


THE pound would plunge by 20 per cent and economic growth would slow by nearly a third following a Brexit vote next month, an economic think tank claims.

The National Institute of Economic and Social Research said it would be “a significan­t shock” to the UK economy, with GDP growth dropping to 1.9 per cent in 2017 compared with 2.7 per cent following a Remain. A drop in sterling would drive inflationa­ry pressure, with “higher import prices feeding through into higher prices for households”.

It added: “Reductions in trade and foreign direct investment would represent more permanent structural changes to the UK economy, and would have important long-run implicatio­ns.”

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