UK OBR: Cost of Brexit seen at GBP 58bln

The UK's  independent Office for Budget Responsibility (OBR) came out with its calculation costs of Brexit cost, which is seen at GBP 58 bln, after the UK chancellor Hammond delivered the UK Budget Statement yesterday.

The OBR noted that it took into account the following costs, while calculating the costs of Brexit:

• Lower migration
• Lower productivity growth
• Higher inflation
• Ongoing low interest rates