George Hannah
Well-Known Member
I think it has to actually happen before we know whether anybody's sums add up.im trying to understand the potential financial cost of a no deal brexit. This is what I’ve come up with, am I right?
Are my maths correct?
- Uk GDP in 2018 was just over 2 trillion
- We pay for EU membership 18 billion in 2018 ( I’m excluding rebates and the amount we get back from the EU)
- KPMG forecast hit to GDP follow a no deal brexit is a reduction of 1.5%. Which equals a 30 billion hit to the economy
- I think government forecasts to GDP are in the range of negative 3.5 to 6.5%. Which equals 70 billion to 130 billion hit to the economy
- Bank of England forecast to GDP are negative 5.5% (revised down from 8%). Which equals 110 billion hit to the economy.
(and given the choice of what to count probably not then either.)