Brexit cut down U.K. family income by over £600 a year

Nov 01, 2017, 8:04 AM EDT
(Source: Ed Everett/flickr)
(Source: Ed Everett/flickr)

A report by the National Institute of Economic and Social Research (NIESR), one of Britain’s premier economic forecasting bodies, says that the Brexit vote has slashed the income of an average U.K. household by more than £600 a year.

The report finds that the Brexit has chipped away at living standards and impeded the pace of economic growth, writes The Guardian.

NIESR also revised down Britain’s GDP growth estimate to 1.6 percent in 2017 from its August projection of 1.7 percent, notes Independent