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British government will have to maintain austerity in the light of Brexit costs (Photo: Jaypeg)

Brexit to hike British debt by €69bn

Britain’s decision to exit the EU is to prompt €69 billion (£59bn) of extra borrowing, a UK watchdog has said, leaving poorer families less well off.

The Office for Budget Responsibility (OBR), a fiscal watchdog created six years ago, said in London on Wednesday (23 November) that the extra money would be needed over the next five years.

“The economy has not slowed as sharply as some forecasters feared in the wake of the referendum vote to leave the European Union, but it has sl...

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

British government will have to maintain austerity in the light of Brexit costs (Photo: Jaypeg)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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