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Brexit makes people poorer with more pain on the way, warns study
1 June 2017
BREXIT has already started to make UK citizens poorer and more pain is likely in the months and years to come, a new study has warned. Although last year’s vote to quit the European Union has had “no obvious effect” on GDP growth, the collapse in the value of the pound – down 13 per cent against the US dollar and nine per cent against the euro by the end of April – has fuelled a surge in inflation from 0.5 per cent to 2.7 per cent and a fall in real wage growth from 1.3 per cent to minus 0.5 per cent, the report from the London School of Economics Centre for Economic Performance found.