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The Chancellor didn’t mention Brexit but as we absorb the consequences of an 11% fall in GDP, reminder that virtually every independent body assesses that even a Free Trade Agreement with the EU will lead to less economic growth in the long term. No deal would be even more severe
The whole world is heading for an economic storm. The UK is no different (heading for an economic emergency to use the Chancellor’s words). The difference is that the UK does so whilst fundamentally altering its most important trading and economic relationship at the same time.
OBR:" There is evidence that neither the govt nor biz are fully prepared for the imminent changes even if a deal is agreed... over 1/3 of firms are either only partially prepared or not prepared at all...some short-term disruption, especially to exports, remains a downside risk."
