Three recent reports on the effects of a U.K. exit from the European Union (perhaps better known as the “Brexit”) are all pessimistic about the effects on household incomes, economic growth, gross domestic product, and trade. The first, which describes the process of exit, came in February from the U.K. Cabinet Office; the second was published on 18 March by the Center for Economic Performance at the London School of Economics; while the third, and most comprehensive, was published on 21 March by PwC, commissioned by the Confederation of British Industry (CBI). While the Cabinet Office report purports to be neutral, the CEP and PwC reports are apocalyptic in their warnings about the effects of a Brexit.
