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Brexit and Truss's Policies Weaken UK Economy, Warns Mann

10/14/2025

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Summary

Story summary

Catherine Mann, Bank of England policymaker, said Brexit and former Prime Minister Liz Truss contributed to a less-competitive, slower-growing UK economy, increasing inflation risks, at a National Association for Business Economics conference in Philadelphia.
She described the 2016 Brexit vote as part of a long-term decline of the sterling as a global currency begun in the 1920s.
She added that Truss's mini-budget crash in 2022 exacerbated that decline.

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Story summary

Catherine Mann, Bank of England policymaker, said Brexit and former Prime Minister Liz Truss contributed to a less-competitive, slower-growing UK economy, increasing inflation risks, at a National Association for Business Economics conference in Philadelphia.
She described the 2016 Brexit vote as part of a long-term decline of the sterling as a global currency begun in the 1920s.
She added that Truss's mini-budget crash in 2022 exacerbated that decline.