UK government: No-deal Brexit would mean economy is 7.7% smaller in 15 years time

The UK government released its analysis of Brexit scenarios this Wednesday and here are some of the key highlights:

   “¢   May’s Brexit plan reduces GDP by 2.1% to 3.9% in 15 years time.
   “¢   Government modelling is based on impact in 15 years’ time.
   “¢   May’s modelled plan is better than a regular free trade agreement.
   “¢   But is worse than the UK choosing to stay in the EEA.
   “¢   Says that Chequers plan – which the EU rejects – has the least impact on GDP.
   “¢   No-deal Brexit would mean the economy is 7.7% smaller in 15 years time than if UK stayed in EU.
   “¢   The no-deal Brexit assumes no change to migration rules and some non-tariff barriers.