Hard Brexit to cost UK up to £66bn a year, says Treasury
Leaked G overnment papers suggest leaving the single market and switching to World Trade Organisation (WTO) rules would cause GDP to fall by up to 9.5% compared with if the country remained in the European Union.
The d raft Cabinet committee paper seen by The Times is based on forecasts from the controversial study into the predicted impact of quitting the EU published by George Osborne in April during the referendum campaign.
Although the then chancellor faced widespread criticism over the report, the Treasury stands by its calculations, according to The Times.
The documents says:... read more
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