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

by

UK economy will grow by just 4.4 per cent in 2021 without a Brexit deal, warns auditor KPMG

By Daily Mail City & Finance Reporter

Published: | Updated:

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.’

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.