'Hard Brexit' would deliver GBP 135bln annual boost to UK economy

BBC carrying the story.

  • removing all trade tariffs and barriers would help generate an annual £135bn uplift to the UK economy
  • "hard" Brexit is "economically much superior to soft" argues Prof Patrick Minford, lead author of a report from Economists for Free Trade.
  • eliminating tariffs, either within free trade deals or unilaterally, would deliver huge gains.

The popular consensus says a hard Brexit would be detrimental to UK and GBP, a view I have shared here and currently continue to do so ,although ultimately I still believe if we get it right Brexit will be a good thing for the UK and pound.

Re: Brexit - everything you need to know

Well in my opinion even if Britain succeeds to get good trade deals out of EU it will certainly come at a cost such as more visas. Afterall, EU might cause a lot of trouble to UK to get any positive outcomes of the situation as it endangers the EU's existence

Re: Brexit - everything you need to know

In two papers, published earlier this week, the UK’s Financial Conduct Authority (FCA) has outlined contingency plans in case Britain leaves the European Union without a deal next spring.

The plans reveal that in a worst case scenario, where on March 29th UK leaves EU without a deal, the FCA will grant temporary permissions to all EU and European Economic Area(EEA) regulated companies to continue to operate in the UK for 2 more months, in which those companies will have the opportunity to talk with FCA and get FCA licenses.

Re: Brexit - everything you need to know

UK government official: Extension of Brexit implementation phase is another option

According to a senior UK government official, as cited by Reuters, an extension of Brexit transition period is an option, which is something that has come up in negotiations in recent days.

Additional quotes:

• Key point is that we don't expect any implementation of the extension.
• Wants to move on with talks and wants a deal done in autumn.
• Very clear that we need to find a solution to Irish backstop.
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