Brexit ‘productivity penalty’ is £1,000 per household, says BoE official; Europe to avoid recession – as it happened

Jonathan Haskel says UK's current productivity penalty is about 1.3% of GDP, or 29bn, due to business investment flattening out after 2016 referendum

• David Frost urges UK to embrace' Brexit and warns of plot to unravel deal

Gentolini adds that the risks to the EC's new economic forecast are balanced".

Past risks due to the pandemic and gas shortages have ebbed significantly", there is still very high uncertainty related to the war in Ukraine, and to geopolitical tensions.