Kyle – UK now slowest growing major economy on the planet, Brexit damage to economy is real

The UK was the slowest-growing major economy on the planet last year, according to new figures released today by the ONS.

Britain's Gross Domestic Product (GDP) grew 0.4% in the final quarter of 2017, unchanged from the previous reading. GDP grew by 1.4% on a year-to-year basis in the quarter, once again unchanged from February's reading.

 

Commenting, Peter Kyle MP, leading supporter of Open Britain, said:

“The damage that Brexit is doing to our economy is real and it’s happening now. We’ve gone from the fastest growing economy in the G7 before the referendum to the slowest growing major economy on the planet today.

“Lower growth means less money to spend on public services like the NHS and schools. There is no fabled Brexit Dividend, only a Brexit Deficit. Brexit is costing us hundreds of millions of pounds a week in lost growth and we haven’t even left yet.

“As the costs of Brexit become ever clearer, everyone is entitled to ask whether it really is the right path for our country.”

/ends