{"id":72294,"date":"2020-09-28T13:24:15","date_gmt":"2020-09-28T13:24:15","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72294"},"modified":"2020-09-28T13:24:16","modified_gmt":"2020-09-28T13:24:16","slug":"no-deal-brexit-could-hit-uk-economy-three-times-as-hard-as-coronavirus","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/no-deal-brexit-could-hit-uk-economy-three-times-as-hard-as-coronavirus\/","title":{"rendered":"No-deal Brexit could hit UK economy three times as hard as coronavirus"},"content":{"rendered":"\n
Failure to reach an agreement with the EU in post-Brexit trade talks could hit Britain\u2019s economy three times harder in the long term than coronavirus, a think tank has warned.<\/p>\n\n\n\n
Queues at the border, shortages of fresh food and medicine as well as more \u201chassle\u201d travelling to the continent are also possible, according to the UK in a Changing Europe group.<\/p>\n\n\n\n
A report by the organisation, based on modelling with the London School of Economics, said the impacts of coronavirus may mitigate or obscure the impact of a no-deal exit.<\/p>\n\n\n\n
But it warned that not forming an agreement with Brussels would have a significant impact in the long term.<\/p>\n\n\n\n
The authors wrote: \u201cThe claim that the economic impacts of Covid-19 dwarf those of Brexit is almost certainly correct in the short term.<\/p>\n\n\n\n
\u201cNot even the most pessimistic scenarios suggest that a no-deal Brexit would lead to a fall in output comparable to that seen in the second quarter of 2020.<\/p>\n\n\n\n
\u201cHowever \u2013 assuming a reasonably strong recovery, and that government policies succeed in avoiding persistent mass unemployment \u2013 in the long run, Brexit is likely to be more significant.<\/p>\n\n\n\n