HUGE THREAT TO ECONOMY TO OVERSHADOW TORY BUDGET

The Scottish National Party has said that the threat of a hard Brexit will be the ‘elephant in the room’ at the Autumn Statement.

“The Treasury have carried out an assessment and its conclusions make for pretty grim reading.  “Tax receipts down between £38 and £66 billion a year after 15 years and GDP down as much as 9.5% if the UK reverts to WTO rules.  “The impact on productivity is as bad. The LSE (Centre for Economic Performance) suggest reduced trade will reduce productivity amounting to between 6.3% and 9.5% of GDP. That is the equivalent of up to £6,400 per household

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