Brexit will damage Britain’s competitiveness, hit productivity and dampen workers’ wages for the rest of the decade, according to a damning new study.

The Resolution Foundation think tank’s report, in collaboration with the London School of Economics, said quitting the EU would make Britain “poorer” during the 2020s.

The study said the immediate impact of Brexit was already clear, with a “depreciation-driven inflation spike” increasing the cost of living for households and cutting investment.