Quitting EU could hit UK households by up to GBP 960 a year – Report

According to the latest the report published by consulting firm Oliver Wyman, the UK households could be worse off by up to GBP 960 each year should Britain quit the European Union (EU), Reuters reports.

Key Highlights:

“Households will face higher prices as they absorb costs from labor changes, tariffs, and red tape, it said, whilst consumer businesses could see profits slump by 1-4 percent.

The report focused on five different Brexit scenarios, where the size of the annual economic impact would vary between 245 and 960 pounds depending on whether the UK avoids EU tariffs.”