Brexit – a costly deal for the UK

According to a British government report, Britain is losing Brexit in all economic aspects. The country’s economy, measured in GDP, is expected to decline by between 0.6 and 7.7 percent in the next 15 years after leaving the European Union next year.

at Long-term analysis From the government of UK Prime Minister Theresa May on the results of trade relations between the European Union and the United Kingdom, and how Brexit affects the country’s economy, the non-contractual scenario is the worst.

If the result of the vote in the British Parliament on December 11 is no, the country will exit the European Union without an exit deal. Hence its GDP, the GDP, is estimated at 7.7 percent in the years 2035-2036 compared to if the country is still a member.

But – even if members say yes to the terms of the agreement – GDP will drop 0.6% compared to staying in the union. This evaluation is carried out by several ministries, including the Ministry of Finance, which participated in the analysis work.

In a comment, he said all the Brexit scenarios studied had costs for the UK Said the country’s finance minister Philip Hammond On Wednesday that:

– If you only look at this from an economic point of view, it means the costs of leaving the European Union, yes, because trade barriers arise.

Political benefits

According to Hammond, the negative impact would be much less if MEPs vote yes, as it has political benefits such as new trade agreements and new fishing water control options.

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According to analysts, there are uncertainty factors in the forecast. Among other things, the EU and the UK are expected to adopt more detailed agreements based on the content of the negotiating political declaration on relations between the EU and the UK in the future. Another factor that is unclear is the immigration policy Britain intends to pursue in the future.

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