In a chaotic Brexit – a divorce without agreements with the European Union – the British economy can be more than 9 percent smaller than if the country were to remain in the EU. This appears from new calculations by the British government. If the parliament agrees in two weeks to the agreement that Prime Minister May has made, the damage is limited to 3.9 percent.
Minister of Finance Philip Hammond said in an explanation to the BBC that in the EU is always more economical in terms of economic growth. To add that the Brexit is not just about the economy. He also sees “political advantages” when leaving the union.
“We are going out and we are going to sell this agreement”, Hammond said, with a view to the vote in the House of Commons on 11 December. According to him, it is no longer an option to remain in the EU. May’s plan is, according to him, the highest probable.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at firstname.lastname@example.org