Britain will pay 4 times more than EU for Brexit

It was clear from the start that the UK’s exit from the EU would impact both sides’ economies, but the UK would have a tougher time

According to the European Commission, Britain will lose 2.25% of its gross domestic product by the end of 2022. The EU will lose just 0.5% of GDP over the same period.

“While a free trade agreement improves the situation compared to the outcome without an EU-UK trade agreement, it cannot come close to matching the benefits of the trade relationship provided by EU membership”, –  the EC report said.

The forecast was made against the backdrop of British companies facing problems at the border due to the introduction of new customs rules.

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