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Without Brexit's solution, the UK economy may collapse

British Prime Minister Tereza May 28th in the Chamber of Deputies in London.
British Prime Minister Tereza May 28th in the Chamber of Deputies in London. Jessica Taylor / AP

What would happen if the United Kingdom left the European Union without Brussels? The Bank of England attempted to answer this question on Wednesday 28 November and the projections are somewhat grim. When assessing different EU exit scenarios, the institution foresees a collapse of 25% in the absence of an agreement with Brussels.

Read our Liverpool report: with Brexit, "people feel they've gotten"

The Bank of England adds that in the worst case scenario, British Gross Domestic Product (GDP) will be reduced from 7.8% to 10.5% by 2024 compared to Brexita without Brexita. Other indicators: Unemployment rose to 7.5% and inflation to 6.5%, while real estate prices fell by 30%.

Even if the EU maintains a close relationship with the EU, GDP will fall by between 1.2% and 3.8% by 2024, according to the Bank of England, which welcomed the deal rather favorably. Brexit negotiated by Prime Minister Theresa May, who will be voted on in the UK Parliament on 11 December.

Read also Brexit: What scenarios in the event of British Parliament's rejection?

No second referendum

"Our challenge is not to hope for the best, but to prepare for the worst"Bank of England Governor Mark Carney announced at a press conference. The day before, the government report estimated the loss of GDP to 9.3% in fifteen years. The most affected sectors, in the absence of agreement, will be cars and chemicals that account for more than 20% of production, the government report said.

Article reserved for our customers Read also Brexit: Understand everything about the UK Termination Agreement in the EU

Opponents of the United Kingdom's appeals from the Union immediately took advantage of the sentencing opportunities "False promises" Brexiters for an era of prosperity that should follow the divorce set on March 29, 2019. "It was not Chancellor in the morning [le ministre des finances, Philip Hammond] we finally admit one thing: it would be better to stay in the EU "said Labor Chairman Alison McGovern.

The British Prime Minister launched a tour of the United Kingdom on Tuesday in Northern Ireland to defend an agreement confirmed on Sunday by twenty-seven EU countries. There is no other possible agreement there. If the British MPs refuse it, the United Kingdom will face Brexita without consent. Mme He may also confirm on Wednesday that he did not want a new referendum on the UK's leaving the EU.

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