In most countries, the government claims to be doing what’s in the economic best interest of its citizens. In general, this helps the cause of capitalism. Now, the oldest democracy in the world is taking the opposite route.
What’s happening: This week saw the release of three separate worrisome official reports on the economic consequences of Brexit.
The U.K. Treasury, modeling a deal very similar to the one currently on the table, says it would result in the British economy being 3.9% smaller in 15 years than it would be if it stayed in the EU. If there’s no deal at all, the gap rises to 9.3%.
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