A no-deal Brexit will damage sectors helping the battered economy recover from coronavirus, the UK’s fiscal watchdog has warned.
The Office for Budget Responsibility (OBR) said industries such as manufacturing, financial services and agriculture would be hammered by leaving the EU without a trade deal.
It comes after the watchdog predicted no deal would wipe an additional 2% off the UK’s economic output, on top of a predicted 4% hit to GDP even if a trade deal is agreed.
MPs were told that the economic devastation of no deal would be “widespread”, meaning few sectors would be spared from the damage.
Read more on mirror.co.uk
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