Commenting on the Bank of England latest Inflation Report, which downgraded UK growth forecasts in 2017 to 1.7%, Roland Rudd, Chairman of Open Britain, said:
“This report paints a dismal picture of what hard Brexit is doing to our economy. Downgraded growth, higher inflation and modest wage growth all point to lower living standards for the British people.
“Nobody voted in the referendum to become poorer. The Government’s top priority in this process must be to protect jobs and living standards.
“To protect our economy, Ministers must retain totally free and frictionless trade with Europe by keeping us in the Single Market and the Customs Union.”