Morning new headlines: Hard Brexit to cost UK up to £66bn a year, says treasury; Samsung shares plunge as sales of fire-hit Galaxy note 7 halted
HARD BREXIT TO COST UK UP TO £66BN A YEAR, SAYS TREASURY
Treasury coffers will take a £66 billion annual hit if Britain goes for a so-called hard Brexit, Cabinet ministers have been warned.
Leaked Government 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 draft 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... read more
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