UK GDP may be 4% lower in the event of the proposed Brexit deal

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Experts from the National Institute for Economic and Social Research compared the likely volume of UK GDP in two scenarios: in the event of the implementation of the Brexit deal proposed by the government, and if the country remained in the EU. In the former case, GDP in the long term will be 4% lower than in the later case. The loss per capita in the case of the first scenario is 3% of GDP. If the UK remains in the Customs Union, then this figure will drop slightly, but still the losses will be at the level of 2% of GDP. The institute experts believe that the uncertainty regarding the exact form of future relations between Britain and the EU will persist even after the end of the transition period at the end of 2020.

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