Budget Watchdog Says No-Deal Brexit Will Spur UK Recession
|07/18/2019||Posted by BusinessMediaguide.Com under General World News||
The U.K. will plunge into recession if it leaves the European Union without a divorce deal, with the pound plunging in value and the economy shrinking by 2% in a year, Britain’s official economic watchdog said Thursday.
The Office for Budget Responsibility made its assessment as chances of an economically disruptive no-deal Brexit appear to be rising. Both men vying to take over next week as Britain’s prime minister, Boris Johnson and Jeremy Hunt, say they will lead the U.K. out of the bloc, with or without an agreement on terms.
They claim that Britain can withstand any resulting turbulence, but read more >>>