Brexit
Lords · Question HL11209 · Tabled 21 Oct 2025 · Treasury · Official record
Answered 27 Oct 2025
Question
Asked by Lord Wigley
To ask His Majesty's Government what recent estimate they have made of the impact of Brexit on the economy.
Answer
Answered by Lord Livermore, 27 Oct 2025
The Office for Budget Responsibility (OBR) is the Government’s official forecaster. In 2020, the OBR estimated that the additional trade barriers associated with leaving the EU will reduce trade intensity by 15 per cent and as a result GDP will be 4 per c...