Ministers 'warned of GDP fall' after customs union exit
Quitting the European customs union risks causing a 4.5% fall in GDP by 2030, Cabinet ministers have reportedly been warned.
Pulling out of the agreement could also clog up trade through Britain's ports, economic reports circulated at a Brexit Cabinet committee said, according to the Guardian.
The forecast, based on a Norway-style model for Britain's future relationship with the European Union, is the average prediction made in three studies carried out ahead of the referendum, the newspaper said.
Liberal Democrats said it showed that supporters of a so-called hard Brexit were treating the... read more