Hunt rejects OBR forecasts of Brexit hit to UK economy

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City AM

By Stefan Boscia Forecasts of the economic hit caused by Brexit from the UK’s budgetary watchdog are wrong, according to chancellor Jeremy Hunt. Hunt today said he doesn’t “accept” predictions by the Office for Budget Responsibility (OBR) that the UK’s economy will be 4 per cent smaller in the medium-term due to Brexit. Hunt told Sky News that policies he recently announced on regulatory divergence from Brussels, including on ditching the EU’s Solvency II directive on the insurance industry, will help boost the UK’s economic prospects long-term. Brexit has come back into focus over the past fe…

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