Mail online:
Leaving the EU without a trade deal could cost Britain #430 BILLION over five years, warns Vince Cable
22 October 2017
Using calculations based on research by the London School of Economics, the Lib Dems say that if the UK exits the EU in March 2019 without a deal, Britain’s economic output in the five years after Brexit would be reduced by 5.3 per cent, or £430 billion. Even if the UK agreed to a Norway-style arrangement, in which we retain full access to the Single Market, there would still be a reduction of 2.9 per cent – or £235 billion. London would be worst hit by a no-deal Brexit, with a £115 billion fall in output up to March 2024.