18 Jul 2019

No-deal Brexit could cost UK £30 billion a year, watchdog warns

Economics Correspondent

A no-deal Brexit could end up costing the government’s budget as much as thirty billion pounds every year – pushing it into recession, according to the public finances watchdog.

The Office for Budget Responsibility examined the effect of Britain crashing out of the EU without a deal, leading to a 2% fall in GDP by the end of next year and a collapse in the pound. Their report also warned of sliding house prices and years of stagnant wages.