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According to the Government's Implications for Business and Trade of a No Deal Exit on 29 March 2019 document: > This estimates that the UK economy would be 6.
by stordoff 8y ago
According to the Government's Implications for Business and Trade of a No Deal Exit on 29 March 2019 document:
> This estimates that the UK economy would be 6.3-9% smaller in the long term in a no deal scenario (after around 15 years) than it otherwise would have been when compared with today’s arrangements, assuming no action is taken.
> Although our food supply is diverse, resilient, and sourced from a wide variety of countries, the potential disruption to trade across the Short Channel Crossings would lead to reduced availability and choice of products.
> HMRC has estimated that the administrative burden on businesses from customs declarations alone, on current (2016) UK-EU trade in goods could be around £13bn p.a.
That feels pretty extreme to me.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/781768/Implications_for_Business_and_Trade_of_a_No_Deal_Exit_on_29_March_2019.pdf https://assets.publishing.service.gov.uk/government/uploads/...