The Dutch government’s macro-economic think tank CPB has lowered its economic growth forecasts, saying the British decision to leave the EU and lower income for the treasury from natural gas sales will have an impact on the Netherlands.

For 2016, the think tank has revised down its forecast from 1.8% in June to 1.7%. The impact next year will be more severe, the CPB said, cutting its forecast for 2017 from 2.1% to 1.6%.

The Dutch economy is continuing to improve but the uncertainty created by Brexit will have a short term impact on consumer spending and corporate investments, the CBP said. There will also be a knock-on effect on the global economy.