Bloomberg:
'Brexit' May Wipe $9,300 From U.K. Households, CEP Report Says
18 March 2016
A British exit from the European Union would wipe as much as 6,400 pounds ($9,300) from average household incomes in the U.K. as trade deals sour, according to research by the London School of Economics. “We consistently find that by reducing trade, ‘Brexit’ would lower U.K. living standards,” wrote Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen at the LSE’s Centre for Economic Performance. “The fall in income per capita resulting from lower trade more than offsets any savings that the U.K. obtains from reduced fiscal contributions to the EU budget.”