Brexit seen from afar

Linda Hall

BREXIT was a “historic economic error” that helped to fuel the UK’s high inflation, a former US Treasury chief declared.

Talking to the BBC’s Radio 4 Today programme, Larry Summers said Brexit and other policies meant Britain’s economic problems were more acute than those of most other major countries.

“The UK’s economic policy has been substantially flawed for some years,” Summers said.

“Brexit will be remembered as a historic economic error that reduced the competitiveness of the UK economy, put downward pressure on the pound and upward pressure on prices, limited imports and the supply of labour,” he added.

This all combined to contribute to higher inflation, maintained the for­