UK economy ‘will grow just 4.4 per cent in 2021 without a Brexit deal’

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

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.’