The International Monetary Fund has warned that a no-deal Brexit on World Trade Organization terms would entail substantial costs for the UK economy. IMF said that all likely Brexit scenarios would entail costs, but a disorderly departure could lead to a significantly worse outcome.2 comments
Terrorism has hit the UK’s economy harder than any other EU country in recent years, according to a study. Analysis found the UK lost an estimated 43.7 billion Euros (£38.3 billion) in GDP terms due to terrorist activity from 2004 to 2016, according to a report published by the Press Association.
EU leaders have agreed to spend more on common defense and security policy in their next long-term budget, said European Council President Donald Tusk. Leaders of 27 states were meeting in Brussels to shape the 2021-27 budget.
More than 60 Conservative MPs have signed a letter to Theresa May making a series of suggestions about the government's Brexit strategy. The letter from the European Research Group says the UK should be free to negotiate and sign trade deals with other countries as soon as it leaves.
A deeper relationship with Europe will benefit the UK economy, the governor of the Bank of England has argued. Mark Carney's comments follow claims by chancellor Philip Hammond that the UK and EU economies will only move very modestly apart after Brexit.