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'No deal' Brexit could cost UK, EU companies 58 billion pounds: report

Reuters  |  LONDON 

By Andrew MacAskillLONDON (Reuters) - Companies in Britain and the European Union face an extra 58 billion pounds ($80 billion) in annual costs if there is a no-deal Brexit, with Britain's vast financial sector set to be the worst-hit industry, according to a report on Monday.Firms across the EU's 27 countries other than Britain will have to pay 31 billion pounds a year in tariff and non-tariff barriers if Britain leaves the bloc without a deal, the report by Oliver Wyman management consultants and law firm Clifford Chance said.In return, British exporters to the EU will have to pay 27 ...

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First Published: Mon, March 12 2018. 09:47 IST