A no deal Brexit will have a potentially large impact across a wide range of sectors and regions The UK in a Changing Europe’s report, Cost of No Deal Revisited, finds.
A chaotic Brexit – where the UK fails to sign a withdrawal agreement – would generate short-term uncertainties including the disappearance, without replacement, of many of the rules underpinning the UK’s economic and regulatory structures.
The impacts would be felt significantly in agriculture, financial services, air transport, drugs and on EU citizens in the UK and British citizens living elsewhere in Europe.
Under a no deal outcome, mitigating measures will prove problematic. The EU is unlikely in the extreme to countenance negotiation of ‘mini deals’ to mitigate the impact of no deal as long as the key withdrawal issues remain unresolved.
The 34-page report was written by: Catherine Barnard, Michaela Benson, Matthew Bevington, Charlotte Burns, Josh De Lyon, Swati Dhingra, John Garry, Colin Harvey, Tamara Hervey, Carmen Hubbard, Hussein Kassim, Craig McAngus, Philip McCann, Jean McHale, Anand Menon, Raquel Ortega-Argilés, Steve Peers, Jonathan Portes, John-Paul Salter, Thomas Sampson, Simon Usherwood and Alan Wager.Download Cost of No Deal Revisted
The views expressed in this research paper are those of the authors and not necessarily those of the UK in a Changing Europe initiative.