Government: UK economy suffers from Brexit

CNC
Added On November 30, 2018

The British government has conducted a research on different possible Brexit scenarios' impacts on its economy, and now issues a report, saying the economy will suffer from whatever scenario.
 
The government released the 83-page forecast report on Wednesday.
 
Under Prime Minister Theresa May's Brexit plan, Britain could see a 3.9-percent drop in GDP over the coming 15 years than if the UK had remained in the EU.
 
In the worst scenario, the No Deal Brexit, Britain's GDP would decline by 9.3 percent in 15 years' time.
 
Under a Canada-style deal proposed by rebel Brexiters, the UK would be 4.9 percent worse off.
 
In the best Brexit scenario, where Britain had frictionless trade and kept free movement of people, the economy would suffer a 1.4 percent hit.
 
The report was produced jointly by various departments across the British government, including the Treasury.