The United Kingdom will be at a loss for Brexit for each scenario, according to an analysis commissioned by British officials.
Britain will step out of the EU on March 29, 2019, but there are deep divisions within Prime Minister Theresa May’s and her conservative cabinet over the relationship that will replace you 46 years of membership in the European bloc.
The January 2018 analysis included three possible scenarios.
If Britain concludes a comprehensive free trade agreement with the EU, its economic growth in the next 15 years will be five percent lower than the current forecasts, the document says.
If there is no agreement with Brussels and Britain to return to the rules of the World Trade Organization, London in the same period will have a reduced economic growth of 8%.
If Maya negotiates that London still has access to the Union’s single market, Britain’s long-term economic growth will be 2% lower than the persecution made under the assumption of full membership.
Every sector of the economy will have negative consequences for all three scenarios, and the hardest hit will be the chemical industries, production of clothing, food, beverages and cars, as well as manufacturing and retail.
The EU and Britain agreed last month to negotiate on the issue of trade in the negotiations on “Brexit”.