UK CBI Director-General Carolyn Fairbairn is going to want the government that no-deal Brexit could cause -8% decline in GDP, in a speech today.
In an article at CBI’s website, Faribarin talked about the “dangers” of no-deal Brexit. She warned that “The economic consequences would be profound, widespread and lasting. GDP would decline by up to 8%, meaning less money for our public services and those who rely on them.”
There would be “new costs and tariffs” and ports would be “disrupted”. Trade deals with countries like Japan, South Korea and Turkey would be “lost”. Services sector would be “at a sharp disadvantage”.
In short, She said “no-deal cannot be managed”. On next week’s vote in the parliament, she said “”And next week, they face a test. If they meet it with yet more brinkmanship, the whole country could face a no-deal, disorderly Brexit.