Tuesday, January 30, 2018

Britain worse off under any Brexit scenario

Brexit scenario
The UK government is under pressure to publish its latest Brexit analysis after a leaked internal report said Britain would be worse off whatever deal it strikes with the EU.


The economic impact assessment, drawn up for the Brexit ministry and seen by the BuzzFeed News website, showed growth would be lower under a range of potential scenarios.

The leak comes as Prime Minister Theresa May prepares to fly out on a three-day trade mission to China and as parliament's upper House of Lords begins scrutinising the EU (Withdrawal) Bill, a key plank of Brexit legislation.

The January 2018 study, titled "EU Exit Analysis", examined three of the most plausible Brexit scenarios.

If found that if Britain remained in the European single market, growth would be 2% lower over the next 15 years compared to current forecasts.

Under a comprehensive free trade agreement with the European Union, growth would be 5% lower, it said.

If London and Brussels end up with a "no deal" scenario and revert to World Trade Organisation rules, growth would be reduced by 8% over the same period, the report said, according to BuzzFeed News.
  (RTE)
 30/1/18

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