Brexit a major cause of UK’s return to austerity, says senior economist

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Former Bank of England policymaker Michael Saunders says leaving EU has ‘permanently damaged’ economy

Brexit is the ultimate reason why the UK now faces a fresh round of austerity, a former interest rate-setter at the Bank of England has said.

“The UK economy as a whole has been permanently damaged by Brexit,” Michael Saunders, who was an external member of the central bank’s monetary policy committee, said in an interview with Bloomberg TV.

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