Jan 16, 10:25 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Martin Armstrong 01/16/19 AT 10:19 PM This chart presents the estimated economic impact of Brexit on the UK in different leave scenarios. Photo: IBT/Statista After Theresa May’s proposed Brexit deal was rejected in the House of Commons by the highest margin of any government motion since 1918, having to leave the European Union without a proper deal in place looks like an ever more likely scenario for the United Kingdom. More than two years after the Brexit referendum in June 2016, the outcome of the UK’s intended departure from the EU is more unclear than ever.Official forecasts for the economic impact of Brexit paint far from a positive picture of the UK’s future outside of the EU. The figures released by the government in late November forecast that, over 15 years, May’s Brexit agreement terms would have led to the economy shrinking by 3.9 percent compared to today’s arrangements (EU membership). Even bleaker is of course the prospect of a, now more likely than ever, no-deal Brexit. In this case, the United Kingdom’s economic output over the next 15 years is projected to be 9.3 percent lower than… Read full this story
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