Brexit hit UK growth by £29bn, says Bank of England rate setter

Jonathan Haskel, a member of the Bank of England’s monetary policy committee, used business investment as the measure in the study instead of trade. Photograph: Andy Rain/EPA

The UK has suffered a loss of business investment since the 2016 Brexit referendum worth £29bn, or £1,000 a household, according to a study by a senior Bank of England official.

Jonathan Haskel, an external member of the Bank’s nine-strong monetary policy committee that sets UK interest rates, said private sector investment “stopped in its tracks” in the years following the decision to quit the EU.