| Author (Corporate) | Organisation for Economic Co-operation and Development (OECD) |
|---|---|
| Publisher | OECD Publishing |
| Series Title | OECD Economic Surveys |
| Series Details | October 2017 |
| Publication Date | October 2017 |
| ISSN | 0376-6438 |
| Content Type | Report, Statistics |
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OECD iLibrary subscribers can access this title through the ESO Source url hyperlink. Non-subscribers can sometimes access a free access read only version, or read an extended summary of the source, through the ESO related url hyperlinks.The OECD published the 2017 edition of its Economic Survey for the United Kingdom on the 17 October 2017. It said that the UK economy had weakened in the aftermath of the decision to leave the European Union in June 2016. Maintaining close ties with the EU and implementing policies to boost productivity would be crucial for maintaining future living standards. The report detailed developments since the June 2016 vote to leave the EU, highlighting growing uncertainties and a number of risks. This included the hit on households’ purchasing power from higher inflation, declining savings rates, and a fall in net migration. It lay out a range of policy options for meeting the challenges posed by Brexit and building a stronger and more inclusive UK economy going forward. OECD Secretary-General Ángel Gurría said 'The United Kingdom is facing challenging times, with Brexit creating serious economic uncertainties that could stifle growth for years to come ... Maintaining the closest economic relationship with the European Union will be absolutely key, for the trade of goods and services as well as the movement of labour'. In a controversial aspect the OECD said 'In case Brexit gets reversed by political decision (change of majority, new referendum, etc), the positive impact on growth would be significant'. The UK Treasury and Prime Minister said there would be no second referendum. |
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| Source Link | Link to Main Source http://dx.doi.org/10.1787/eco_surveys-gbr-2017-en |
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| Countries / Regions | United Kingdom |
