18 April 2016

CBI Report- Economic Impact Of Brexit

The CBI has released new independent research showing the ‘Brexit’ could cost the UK economy £100billion and 950,000 jobs by 2020.

Together with PWC the analysis modelled two different scenarios for a Brexit. A highly optimistic ‘Free trade agreement’, where the UK signs a quick trade deal with the EU, keeps all it’s existing trade deals with third party countries and signs a rapid trade deal with the United States. Secondly, a less optimistic mid-range ‘World Trade Organisation scenario’ – where the UK trades under WTO rules but it is able to renegotiate trade deals with third party countries over the coming years.

This research follows confirmation that it will continue to make the economic case to remain in EU after reaffirming a strong member mandate, where 80% of CBI members said being in the EU is best for their business.

Oxford Economics and London School of Economics have similarly predicted negative economic impacts from the leaving the EU.

www.cbi.org.uk for further information/research.

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