Britain is starting to feel the Brexit pain

Up to now, the warnings from various institutions have been dismissed: the Bank of England, the currency markets, the International Monetary Fund, the EU Commission, the ratings agencies and even the British Treasury itself.

Leaving aside the occasional difference of emphasis, all of these bodies and organisations have been humming a similar economic tune for some time. All have warned that the British economy would be severely damaged by Brexit, irrespective of whether ...