The government's Brexit deal would leave the UK £100bn a year worse off by 2030, analysis by the National Institute of Economic and Social Research (NIESR) has claimed. The study commissioned by the People's Vote, which wants a second referendum, said GDP would shrink by 3.9% annually.
A no-deal Brexit could slam the brakes on the UK’s economic growth, wiping out Chancellor Philip Hammond’s hopes of boosting public spending, a think tank has said. If the UK fails to reach a withdrawal deal with the EU and moves on to World Trade Organization (WTO) rules next March, GDP growth can be expected to slow sharply from 1.4% this year to 0.3% in both 2019 and 2020, said the National Institute of Economic and Social Research (Niesr).
Global economic growth will slow this year to the lowest rate since the financial crisis, according to the National Institute of Economic and Social Research (NIESR). The think tank cut its 2015 forecast to 3.0% from the 3.2% it predicted in May.