A piece via Reuters on an Institute for Fiscal Studies assessment of the costs of a hard Brexit
- UK budget deficit is likely to more than double to around 92 billion pounds - equivalent to 4% of national income - by 2021/22 under a "relatively benign" no-deal Brexit scenario, in which there are no major delays at borders.
- recession in 2020
- "A no-deal Brexit would likely require a fiscal short-term stimulus followed by a swift return to austerity"
- a no-deal Brexit would mean less money to spend on public services - or higher tax rates - than staying in the EU or leaving with a deal
- IFS said the government's budget targets had lost credibility
Ugly stuff.
I'll try to dig up a link for more.
