A senior economist at the Bank of England (BoE) says Britain has lost £40 billion a year since Britons voted to leave the European Union in a June 2016 EU referendum.
Gertjan Vlieghe, a member of the BoE’s monetary policy committee, said the Brexit referendum inflicted a 2-percent loss on the UK economy, a figure which he said amounts to £800 million a week, or £40 billion a year.
“That 2% of GDP is not trivial, that’s £40 billion or if you prefer it in bus units, it’s £800 million a week,” said Vlieghe, making a reference to a bus campaigning for Brexit before referendum (pictured below) on which it was written that by leaving the EU, Britain could save £350 million on EU membership fees each week and spend it on National Health Service (NHS).
The BoE has estimated, however, that the total loss on the British economy as a result of Brexit has been around £55 billion.
Vlieghe said Brexit has been a significant domestic…