THERESA May’s Brexit deal will cost every Brit £1,000 a year EACH as the UK economy shrinks, it’s been predicted.
UK GDP would fall by 3 per cent a year – costing Britain the economic value of the whole of Wales or the City of London by 2030, research from a think tank has discovered.
he National Institute of Economic and Social research said the PM’s agreement would be less damaging than leaving without a deal at all, but there would be a big hit.
It said there would be less trade, foreign investment and migration, all of which would have an impact, in a Canada-style deal scenario.
The report said: “Our key finding is that if the Government’s proposed Brexit deal is implemented so that the UK leaves the EU Customs Union and Single Market in 2021, then by 2030 GDP will be around 4% lower than it would have been had the UK stayed in the EU.
“This is largely because higher impediments to services trade make it less attractive to sell services from the UK.
“This discourages investment in the UK and ultimately means that UK workers are less productive than they would have been if the UK had stayed in the EU.”