No-deal Brexit would cost EU economy £100bn, report claims

Trading bloc would suffer more in lost output than thought, although lack of trade deal would cost UK around £125bn

A no-deal Brexit would cost the remaining 27 EU nations €112bn (£99.5bn) in lost economic output, according to research by a UK-based thinktank.

Although the UK would still be the biggest loser from crashing out of the EU single market and customs union without a new trade deal – with a cost to the economy of £125bn by 2020 – the EU would also suffer a bigger economic hit than previously thought by the end of the decade, according to the consultancy Oxford Economics.

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