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The National (Online): Pound recovers after MPs secure right to table to bills blocking no-deal Brexit
4 September 2019
Although the short-term impact of a no-deal Brexit could be relatively benign, leaving without a deal would prove costly in the long term, a new paper by the UK in a Changing Europe and the London School of Economics' Centre for Economic Performance argues. Downgrades by credit agencies of the UK's sovereign debt would be immediate and thus push up the cost of borrowing, but leaving the EU on World Trade Organisation (WTO) terms would reduce the UK's income per capita by between 3.5 per cent and 8.7 per cent over a 10-year period.