Ex-TreasuryMin O’Neill: UK economy will cope with Brexit hit as global economy grows

A former Treasury Minister, as well as a former Goldman Sachs economist Jim O‘Neill, said on Monday, Britain’s economy is likely to do better in 2018, as the benefits of global growth in the coming years will “easily dwarf” any hit from leaving the European Union (EU).

Key Quotes via BBC:

“I certainly wouldn’t have thought the UK economy would be as robust as it currently seems.

That is because it looks to me some parts of the country, led by the northwest (of England), are actually doing way better than people seem to realize or appreciate.

As well as this crucial fact, the rest of the world is doing way better than many people would have thought a year ago, so it makes it easier for the UK.

Now, my own view is if we go for a really hard Brexit or a no-deal Brexit, we’ll probably suffer more than that 3 percent.

But if it is only 3 percent, what’s going on with the rest of the world - helping us - and with productivity improving that will easily dwarf a 3 percent hit over 13 years, easily.”