‘No deal’ Brexit foolhardy gamble warn MPs and industry leaders

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A ‘no deal’ Brexit would lead to severe disruption, pose a fundamental risk to key sectors of the UK’s economy and put many jobs at risk a committee of MPs has warned.

Published today (19th July 2019) the latest report from the cross-party House of commons Brexit committee warns that a no deal-Brexit could have damaging consequences for almost every area of the UK economy.

The publication of the report  - based on evidence taken from representatives from a number of different sectors of the UK economy - follows the latest forecast from the independent Office for Budget Responsibility that a no-deal Brexit could cause a £30bn hit to the public finances and push the UK economy into recession.

Presumed Prime Minister in waiting Boris Johnson has pledged to deliver Brexit “do or die”.

“A no deal Brexit … would be at best a foolhardy gamble and at worst, lead to severe disruption, and it is neither desirable nor sustainable as an end state for our economic relations with the EU,” said the Committee’s Chair, Hilary Benn MP.

“We heard from representatives of important sectors of the UK economy which are all great British success stories. Every single one warned us of the damaging consequences faced by their members in the event of a no-deal Brexit.

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