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Times of Malta:
Brexit could cost the average Briton up to #1,700 a year

27 March 2018

Disruption to trade caused by Brexit could cost the average Briton as much as £1,700 a year, with Remain-backing areas bearing the brunt, a report has claimed. The research suggested many of the worst-affected areas would be in the Remain-voting South East because their prosperity depends more heavily on services, which are more sensitive than goods to trade barriers. The findings, released by the London School of Economics Centre for Economic Performance, are at odds with official Whitehall assessments that Leave-backing areas of the North East will pay the highest price for any disruption to trade. Unveiling his research at the Social Market Foundation think tank in London, the LSE's Nikhil Datta said a "soft" Norway-style Brexit, where the UK remained in the European single market, would result in annual economic growth being 1.3% lower over the next 10 years - around £850 per head of population. A "hard" Brexit, where the UK leaves without a trade deal, would mean growth being 2.7% lower over the period, the equivalent of £1,700 a person, he said.

  

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