British current account deficit still near record levels

Brexit vote has heightened balance of payments concerns

30th June, 2016
Bank of England Governor Mark Carney has warned about the current account deficit Pic: Getty

As Brexit threatens to blast the British economy, few things seem more exposed than the balance of payments.

The current account deficit – the difference between money coming into Britain and money sent out – stood at at higher-than-predicted £32.6 billion in the first quarter, or 6.9 per cent of economic output, the Office for National Statistics said this morning. That is just below a record 7.2 per cent in the fourth quarter of 2015.

Separately, the ONS...

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