The economy is 4% lower than it would be if the UK had remained in the European Union, the chairman of the Office for Budget Responsibility has said. Richard Hughes also said the country is seeing the “biggest squeeze on living standards” on record.
The economy is 4% is lower than if the UK had remained in the European Union, the chairman of the Office for Budget Responsibility has said.
He told the BBC’s Sunday With Laura Kuenssberg programme: “But we do expect, as we get past this year and we go into the next three or four years, that real income starts to recover. Mr Hughes said this is “partly” because the UK’s growth has been held back by supply constraints on “key drivers” of growth.
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