Economics
Brexit No Deal Seen Leaving U.K. Economy at a Near Standstill
- U.K. economy risks expanding only 0.3 percent in 2019: Niesr
- Budget on Oct. 29 will be tricky for Chancellor Hammond
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A no-deal Brexit would drag the U.K. economy to a near standstill next year, according to a new report.
If Britain leaves the European Union without an agreement, reverting to World Trade Organization’s most-favored-nation status rules, gross domestic product would increase only 0.3 percent in 2019, the National Institute of Economic and Social Research said on Friday.