British economy will be worse off after Brexit

Vastavam web: A forecast prepared for the British government reportedly says the economy will be worse off after the country leaves the European Union whatever trade deal is struck with the bloc.The leaked assessment published yesterday by news website BuzzFeed says if Britain reaches a free trade deal with the EU, growth will be 5 per cent lower than current forecasts over 15 years.The government maintains that Britain will be able to strike new trade deals around the world after Brexit to replace any decline with the EU.

The leaked analysis says new trade deals with the US, China, India and other countries would boost growth, but not enough to make up for the lost revenue from the EU, currently Britain’s biggest trading partner.The report is the latest in a string of economists’ predictions that leaving the EU will harm the UK economy.Supporters of Brexit point out that many such forecasts have so far not come to pass.