Analysis by the U.K government tested three possible outcomes of Brexit... and none were great.
ADVERTISEMENTThose who voted remain may feel an element of schadenfreude as predicted growth forecasts from the UK Government show Brexit having a negative impact on the U.K economy, regardless of what shape it takes. Ironically, the majority of the regions who voted for Brexit will be those most negatively affected. Other parts of the U.K, such as London which voted to remain, fare better.
The North East and North West voted to leave the U.K, whilst Northern Ireland voted to remain. It’s forecast that if the UK remains part of the single market growth will be - 3% in the North East and - 2.5% in the North West and Northern Ireland.
If the UK sorts out a trade deal with the EU they’ll be even worse off. Growth will be -11% in the North East and – 8% in Northern Ireland and the North West.
The worst results come if there is no result. Forecasts say growth could be as low as – 16% in the North-East and -12% in the North-West and Northern Ireland.