{"id":61515,"date":"2018-02-01T20:00:16","date_gmt":"2018-02-01T20:00:16","guid":{"rendered":"http:\/\/www.bnreport.com\/uk-worse-off-in-any-likely-post-brexit-scenario-says-government-analysis-report-3\/"},"modified":"2018-02-01T20:00:16","modified_gmt":"2018-02-01T20:00:16","slug":"uk-worse-off-in-any-likely-post-brexit-scenario-says-government-analysis-report-3","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/uk-worse-off-in-any-likely-post-brexit-scenario-says-government-analysis-report-3\/","title":{"rendered":"UK worse off in any likely post-Brexit scenario, says government analysis: report"},"content":{"rendered":"<p>The U.K. will be worse off after leaving the European Union in every likely scenario, <a href=\"https:\/\/www.buzzfeed.com\/albertonardelli\/the-governments-own-brexit-analysis-says-the-uk-will-be?utm_term=.ux3gzPeD8#.tdMDB0qAZ\" rel=\"noreferrer\" target=\"_blank\">according to<\/a> a secret report prepared by the British government and published by BuzzFeed Monday.<\/p>\n<p>The analysis examined the three most plausible scenarios for the U.K.\u2019s departure \u2014 a comprehensive free-trade deal with the EU, a no-deal Brexit, and a soft Brexit with continued membership in the European Economic Area and the single market \u2014 and found that under each, Britain would be worse off in 15 years than if it remained in the bloc.<\/p>\n<p>A no-deal Brexit, in which Britain would trade with the EU on World Trade Organization terms, would reduce growth by 8 percent compared with current projections, a Canada-style free-trade agreement by 5 percent and staying in the single market by 2 percent. Every region in the U.K. would be negatively affected in all the scenarios. Free-trade deals with other countries would not offset the lost growth, according to the report, with a boost of just 0.2 percent over 15 years from a deal with the U.S.<\/p>\n<p>According to the report, almost all sectors of the economy analyzed would be negatively impacted in all the scenarios, with the hardest hit including manufacturing, food and drink, cars and retail. Only the agricultural sector would not be adversely affected in a no-deal Brexit.<\/p>\n<p>The analysis was prepared this month by government officials for the U.K.\u2019s Department for Exiting the European Union and was supposed to remain confidential.<\/p>\n<p>Labour MP Chuka Umunna called the report \u201cutterly damning\u201d on <a href=\"https:\/\/twitter.com\/ChukaUmunna\/status\/958118439205339136\" rel=\"noreferrer\" target=\"_blank\">Twitter<\/a>.<\/p>\n<p>Pro-Brexit Tory MP Iain Duncan Smith told the BBC\u2019s Today program that the report should be taken \u201cwith a pinch of salt\u201d because \u201calmost every single forecast coming from government and most international organizations has been wrong.\u201d<\/p>\n<p>\u201cWe should just push it to one side and say yet another report, not complete, not overseen by the government,\u201d Duncan Smith said. \u201cIt\u2019s deliberately leaked because it gives a bad view.\u201d<\/p>\n<p>A government official confirmed the document was legitimate to POLITICO, but said the deal Prime Minister Theresa May is <a href=\"https:\/\/www.politico.eu\/pro\/may-to-meet-finance-industry-leaders-at-downing-street\/\" rel=\"noreferrer\" target=\"_blank\">pushing for<\/a> \u2014 including financial services and replicating many EU membership benefits \u2014 was not examined.<\/p>\n<p>The EU\u2019s chief Brexit negotiator, Michel Barnier, has dismissed this option, <a href=\"https:\/\/www.theguardian.com\/politics\/2017\/dec\/18\/uk-cannot-have-a-special-deal-for-the-city-says-eu-brexit-negotiator-barnier\" rel=\"noreferrer\" target=\"_blank\">saying<\/a>: \u201cThere is not a single trade agreement that is open to financial services. It doesn\u2019t exist.\u201d<!--more--><\/p>\n<p><em>Jack Blanchard contributed reporting.<\/em><\/p>\n<p><a href=\"https:\/\/www.politico.eu\/article\/report-uk-worse-off-in-any-likely-post-brexit-scenario-says-government-analysis\/?utm_source=RSS_Feed&amp;utm_medium=RSS&amp;utm_campaign=RSS_Syndication\" rel=\"noreferrer\" target=\"_blank\">Original Article<\/a><\/p>\n<p> [contf] [contfnew]         <img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcRMd3Tz2gX9xSa6CJyaOj2dokBVcrdaT4yY3R3RI7YmL18vCLZZ\"\/> <\/p>\n<h5><a href=\"http:\/\/www.politico.com\/&gt;Politico&lt;\/a&gt;&lt;\/h5&gt;_&lt;\/p&gt;[contfnewc]_[contfnewc]_&lt;\/body&gt;&lt;\/html&gt;\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>The U.K. will be worse off after leaving the European Union in every likely scenario, according to a..<\/p>\n","protected":false},"author":1,"featured_media":61516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-61515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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