Edinburgh — Economic reality is catching up with the UK, where it is becoming clear that leaving the EU will lead to lower living standards, according to billionaire investor George Soros."We are fast approaching the tipping point that characterises all unsustainable economic developments," Soros wrote in an article published on Monday on the website of the Project Syndicate news organisation. "The fact is that Brexit is a lose-lose proposition, harmful both to Britain and the EU. It cannot be undone, but people can change their minds. Apparently, this is happening."Although the UK economy initially defied predictions of an immediate slowdown after the surprise Brexit vote, signs are now emerging that consumer spending is faltering as the weaker pound drives up prices. Economists in Bloomberg’s latest monthly survey see inflation reaching 3% by the end of the year.Bank of England governor Mark Carney, in a speech at London’s Mansion House on Tuesday, said domestic inflation pressure...
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