UK economy will grow by just 4.4 per cent in 2021 without a Brexit deal, warns auditor KPMG
Britain’s economy will grow by just 4.4 per cent in 2021 without a Brexit deal, a report by KPMG said
The failure to reach a Brexit deal will cost the UK dearly, says auditor KPMG.
The country’s economy will grow by just 4.4 per cent in 2021 without a deal, a report by chief economist Yael Selfin said.
This would mean the economy failing to regain the ground it lost during the pandemic until early to mid-2024.
Even if there is a ‘slimmed-down’ Brexit deal, which excludes the services sector, output will grow by just 7.2 per cent.
In normal years that would be a huge gain, but it pales in comparison to the record slump due to the pandemic.
A HM Treasury spokesperson said: ‘This is just one of many forecasts of the UK economy.
‘Our focus remains on negotiating a deal with the EU.’