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Andrew Sentance, a former member of the central bank’s interest rate-setting monetary policy committee (MPC), said: “The UK economy will be limping on for a while, until Brexit negotiations are fully resolved. I can see the UK being in this limbo-land for quite a while – certainly until the late 2020s.”
The warning comes as the Guardian’s Brexit dashboard reveals robust growth at the start of the year, fuelled by a dramatic rise in stockpiling before the original Brexit date of 29 March, now postponed until the end of October.
Sending sterling tumbling on the foreign exchanges over the past month, observers now fear that Brexit has been transformed from its previous status as a time-limited process into a structural feature of the UK economy, with the prospect of complex and protracted negotiations dragging on growth for years to come. [...]