{"id":58088,"date":"2017-11-19T20:15:37","date_gmt":"2017-11-20T01:15:37","guid":{"rendered":"http:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/"},"modified":"2017-11-19T20:15:37","modified_gmt":"2017-11-20T01:15:37","slug":"brexit-is-already-costing-you-hundreds-more-every-year-experts-say","status":"publish","type":"post","link":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/","title":{"rendered":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say"},"content":{"rendered":"

Brexit Is Already Costing You Hundreds More Every Year, Experts Say<\/b>
\nBrexit is already costing families hundreds more every year, according to experts.<\/p>\n

A Centre for Economic Performance (CEP) report has analysed how the referendum vote has impacted inflation, wages and living standards ahead of the autumn budget on Wednesday.<\/p>\n

It shows UK households are already paying a high economic price and that Brexit is costing the average household \u00a37.74 per week through higher prices \u2013 equivalent to \u00a3404 a year.<\/p>\n

Higher inflation has also reduced the growth of real wages – and the impact of price increases is equivalent to a \u00a3448 cut in annual pay for the average worker.<\/p>\n

Report co-author Dr Holger Breinlich, of the University of Nottingham,\u00a0said:\u00a0\u201cOur findings show that the Leave vote has led to a sharp increase in inflation.\u00a0At a time of growing disenchantment with austerity, this is clearly unwelcome news for living standards across the UK.\u201d<\/p>\n

According to the data gathered, households at all income levels and in all UK regions have been affected. The costs have been evenly shared across the income distribution, but not across regions, with the rise in inflation lowest for households in London, while Scotland, Wales and especially Northern Ireland have been worst hit.<\/p>\n

The largest inflationary effects are for product groups with high import shares, including bread and cereals; milk, cheese and eggs; coffee, tea and cocoa; beer; wine; furniture and furnishings and jewellery, clocks and watches.<\/p>\n

The report concludes the referendum result was \u201can unanticipated shock to the UK economy that increased uncertainty and reduced the expected future openness of the UK to trade, investment and immigration with the EU\u201d.<\/p>\n

Labour MP Chuka Umunna, a supporter of the Open Britain campaign against hard Brexit, said: \u201cWorking families across Britain are already feeling the effects of the Brexit squeeze. The collapse in the value of the pound after the referendum has increased inflation and caused the price of vital goods to soar ahead of wage growth. And we have seen growth slow, car sales fall, and companies already begin to move jobs out of the UK.<\/p>\n

\u201cBrexit is making people worse off right now. Leave campaigners and government ministers have repeatedly promised that Britain will not be left worse off by leaving the European Union, but families are feeling the pinch now \u2013 imagine how much worse it will be if Britain undergoes the hard and destructive Brexit ministers are aiming for.\u201d<\/p>\n

Umunna added that those who voted Leave did not \u201cvote to be worse\u201d off.<\/p>\n

\u201cThe British public have a right to look at the new facts that are emerging and keep an open mind about whether this is really the best option for our country,\u201d he said.<\/p>\n

Dr Dennis Novy of the University of Warwick, who also contributed to the report, said the research was not a Brexit forecast.<\/p>\n

He added: \u201cIt is about the costs of Brexit that have already materialised. Households all across the country are hit by higher inflation \u2013 without matching pay rises. The increase in inflation can be directly traced back to last year\u2019s referendum when the sterling exchange rate dropped sharply.\u201d<\/p>\n

On the same day, Parliament\u2019s business, energy and industrial strategy select committee has also published written evidence submitted to its Brexit\u00a0inquiry\u00a0on the aerospace industry.<\/p>\n

Experts including Boeing, Airbus, the Aerospace Technology Institute and Unite the Union say its impact may see the sector also forced to contend with huge extra costs.<\/p>\n

Committee chair and Labour MP Rachel Reeves said: \u201cThe evidence we have received suggests the impact of Brexit and increased customs checks could mean a potential \u00a31.5bn in added costs for the UK aerospace sector.\u00a0 <\/p>\n

\u201cThat is extremely worrying and risks making our aerospace industry less competitive and driving up costs at a crucial time for our economy.\u00a0The extra costs could have a negative impact on future investment decisions.<\/p>\n

\u201cOur committee is keen to hear from the industry what it wants from the government to ease their uncertainties and ensure the smoothest possible transition as we leave the EU.\u201d<\/p>\n

The submissions were published ahead of the committee\u2019s public evidence session on Tuesday, when MPs will consider how different scenarios relating to future customs and trading arrangements might affect aerospace in the UK, and consider what the government should be seeking to achieve in negotiations.
\n
\nwww.huffingtonpost.co.uk\/entry\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say_uk_5a1184bde4b045cf43720417<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Brexit Is Already Costing You Hundreds More Every Year, Experts Say Brexit is already costing families hundreds more every year, according to experts. A Centre for Economic Performance (CEP) report has analysed how the referendum vote has impacted inflation, wages and living standards ahead of the autumn budget on Wednesday. It shows UK households are … Continue reading Brexit Is Already Costing You Hundreds More Every Year, Experts Say<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2466,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-58088","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nBrexit Is Already Costing You Hundreds More Every Year, Experts Say - GAYFRIENDSCHAT.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brexit Is Already Costing You Hundreds More Every Year, Experts Say - GAYFRIENDSCHAT.com\" \/>\n<meta property=\"og:description\" content=\"Brexit Is Already Costing You Hundreds More Every Year, Experts Say Brexit is already costing families hundreds more every year, according to experts. A Centre for Economic Performance (CEP) report has analysed how the referendum vote has impacted inflation, wages and living standards ahead of the autumn budget on Wednesday. It shows UK households are … Continue reading Brexit Is Already Costing You Hundreds More Every Year, Experts Say →\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/\" \/>\n<meta property=\"og:site_name\" content=\"GAYFRIENDSCHAT.com\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-20T01:15:37+00:00\" \/>\n<meta name=\"author\" content=\"GayFriendschat.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@gayfriendschat\" \/>\n<meta name=\"twitter:site\" content=\"@gayfriendschat\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"GayFriendschat.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/\"},\"author\":{\"name\":\"GayFriendschat.com\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#\\\/schema\\\/person\\\/181913201d50f65b9bba7437f822a17f\"},\"headline\":\"Brexit Is Already Costing You Hundreds More Every Year, Experts Say\",\"datePublished\":\"2017-11-20T01:15:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/\"},\"wordCount\":743,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#organization\"},\"articleSection\":[\"NEWS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/\",\"url\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/\",\"name\":\"Brexit Is Already Costing You Hundreds More Every Year, Experts Say - GAYFRIENDSCHAT.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#website\"},\"datePublished\":\"2017-11-20T01:15:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Brexit Is Already Costing You Hundreds More Every Year, Experts Say\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#website\",\"url\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/\",\"name\":\"GAYFRIENDSCHAT.com\",\"description\":\"LGBT BLOG\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#organization\",\"name\":\"GayFriendsChat.com\",\"url\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/Logo.jpg\",\"contentUrl\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/Logo.jpg\",\"width\":243,\"height\":96,\"caption\":\"GayFriendsChat.com\"},\"image\":{\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/x.com\\\/gayfriendschat\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/#\\\/schema\\\/person\\\/181913201d50f65b9bba7437f822a17f\",\"name\":\"GayFriendschat.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42a0cb75ed5dd34c6dc3e0aa48adf030c1c38a2c9dc59146f4afdf18e4bdf1d4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42a0cb75ed5dd34c6dc3e0aa48adf030c1c38a2c9dc59146f4afdf18e4bdf1d4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42a0cb75ed5dd34c6dc3e0aa48adf030c1c38a2c9dc59146f4afdf18e4bdf1d4?s=96&d=blank&r=g\",\"caption\":\"GayFriendschat.com\"},\"url\":\"https:\\\/\\\/www.gayfriendschat.com\\\/socialblog\\\/author\\\/gayfriendschat-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say - GAYFRIENDSCHAT.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/","og_locale":"en_US","og_type":"article","og_title":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say - GAYFRIENDSCHAT.com","og_description":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say Brexit is already costing families hundreds more every year, according to experts. A Centre for Economic Performance (CEP) report has analysed how the referendum vote has impacted inflation, wages and living standards ahead of the autumn budget on Wednesday. It shows UK households are … Continue reading Brexit Is Already Costing You Hundreds More Every Year, Experts Say →","og_url":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/","og_site_name":"GAYFRIENDSCHAT.com","article_published_time":"2017-11-20T01:15:37+00:00","author":"GayFriendschat.com","twitter_card":"summary_large_image","twitter_creator":"@gayfriendschat","twitter_site":"@gayfriendschat","twitter_misc":{"Written by":"GayFriendschat.com","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/#article","isPartOf":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/"},"author":{"name":"GayFriendschat.com","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#\/schema\/person\/181913201d50f65b9bba7437f822a17f"},"headline":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say","datePublished":"2017-11-20T01:15:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/"},"wordCount":743,"commentCount":0,"publisher":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#organization"},"articleSection":["NEWS"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/","url":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/","name":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say - GAYFRIENDSCHAT.com","isPartOf":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#website"},"datePublished":"2017-11-20T01:15:37+00:00","breadcrumb":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/brexit-is-already-costing-you-hundreds-more-every-year-experts-say\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.gayfriendschat.com\/socialblog\/"},{"@type":"ListItem","position":2,"name":"Brexit Is Already Costing You Hundreds More Every Year, Experts Say"}]},{"@type":"WebSite","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#website","url":"https:\/\/www.gayfriendschat.com\/socialblog\/","name":"GAYFRIENDSCHAT.com","description":"LGBT BLOG","publisher":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.gayfriendschat.com\/socialblog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#organization","name":"GayFriendsChat.com","url":"https:\/\/www.gayfriendschat.com\/socialblog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#\/schema\/logo\/image\/","url":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-content\/uploads\/2019\/01\/Logo.jpg","contentUrl":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-content\/uploads\/2019\/01\/Logo.jpg","width":243,"height":96,"caption":"GayFriendsChat.com"},"image":{"@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/gayfriendschat"]},{"@type":"Person","@id":"https:\/\/www.gayfriendschat.com\/socialblog\/#\/schema\/person\/181913201d50f65b9bba7437f822a17f","name":"GayFriendschat.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/42a0cb75ed5dd34c6dc3e0aa48adf030c1c38a2c9dc59146f4afdf18e4bdf1d4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/42a0cb75ed5dd34c6dc3e0aa48adf030c1c38a2c9dc59146f4afdf18e4bdf1d4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42a0cb75ed5dd34c6dc3e0aa48adf030c1c38a2c9dc59146f4afdf18e4bdf1d4?s=96&d=blank&r=g","caption":"GayFriendschat.com"},"url":"https:\/\/www.gayfriendschat.com\/socialblog\/author\/gayfriendschat-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/posts\/58088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/users\/2466"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/comments?post=58088"}],"version-history":[{"count":0,"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/posts\/58088\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/media?parent=58088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/categories?post=58088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gayfriendschat.com\/socialblog\/wp-json\/wp\/v2\/tags?post=58088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}