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UK budget watchdog warns of long-term Brexit risk for public finances

Reuters  |  LONDON 

By David MillikenLONDON (Reuters) - Britain will need to curb public spending further or raise taxes if leaving the European Union does long-term damage to economic growth, underscoring the importance of the country striking new trade deals, the government's budget watchdog said on Thursday.The Office for Budget Responsibility said ensuring robust trade agreements was more significant for the long-run health of Britain's public finances than the size of any "divorce bill" to settle one-off liabilities with the EU."While some numbers mooted for it are very large, a one-off hit of this sort ...

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First Published: Thu, July 13 2017. 17:28 IST