No deal Brexit & UK Recession
Publish Date : 2019/07/18 - 11:19


The UK financial officer says that if there are no-deal brexit agreements, the country will be in recession next year. The Office for Budget Responsibility (OBR) says the economy will grow by 2020 if the EU declines by 2% without a crack-free agreement. He says this will increase the public debt by 30 billion pounds. Concerns over the effects of brexit have recently been raised without agreement. after both Tory leadership contenders said they want to leave the EU without an agreement. Britain is scheduled to leave the EU until October 31. At the beginning of the economic impact assessment, the Brexit scenario without agreement, OBR says the UK economy will recover by 2021 in 2020. This will be a tariff of 4% imposed on traded goods traded in the EU, "uncertainty and a reduction of confidence" will impede investment, while more trade barriers affect the EU on exports. . OBR says:” They will lead the economy to stagnate, and the value of assets and pounds will decrease rapidly. This will make the public sector pay £ 30 billion for one year, while debt reaches 12% above 2024,".

source: forexfactory.com

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