![\"Anti-Brexit](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/10\/8fa0f09e77ae32bcb577730d9576d2d9.jpeg\"\/)
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Anti-Brexit protester Steve Bray demonstrates outside parliament in 2021. via Associated Press<\/p>\n
Brexit<\/a> will damage the UK economy \u201cfor the foreseeable future\u201d, the head of the Bank of England has admitted.<\/p>\n In comments which will be welcomed by campaigners to rejoin the European Union<\/a>, Andrew Bailey said \u201cmaking an economy less open restricts growth over the long term\u201d.<\/p>\n His remarks, in a speech in Washington on Saturday, are his harshest assessment yet of the economic impact of the UK\u2019s decision to quit the EU in the 2016 referendum.<\/p>\n \u201cFor nearly a decade, I have been very careful to say that I take no position per se on Brexit, which was a decision by the people of the UK, and it is our job as public officials to implement it,\u201d Bailey said.<\/p>\n \u201cBut, I quite often get asked a second question: what\u2019s the impact on economic growth? And as a public official, I have to answer that question.<\/p>\n \u201cAnd the answer is that for the foreseeable future it is negative.\u201d<\/p>\n Bailey did say that over the longer term \u201cthere will be \u2013 because trade adjusts \u2013 some at least partial rebalancing\u201d.<\/p>\n But he added: \u201cMaking an economy less open restricts growth over the long term.<\/p>\n \u201cLonger term, you will get some adjustment. Trade does adjust, it does rebuild.<\/p>\n \u201cAnd all the evidence we have from the UK is that is exactly what is happening.\u201d<\/p>\n Bailey\u2019s comments come as senior government figures begin to openly highlight the negative effects of Brexit.<\/p>\n