OBR: No-deal Brexit will spark recession

Asset prices and sterling fall 'sharply'

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The OBR's report comes ahead of the 31 October departure date
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The OBR's report comes ahead of the 31 October departure date

A sharp decline in investment into the UK and higher trade barriers with the European Union in the event of a no-deal Brexit will plunge the country into a recession, according to the Office for Budget Responsibility (OBR).

The OBR's Fiscal risks report, published on Thursday (18 July), forecasts that real GDP will fall by 2% by the end of 2020, while the UK's debt is set to spiral by an additional £30bn per year than was...

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