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No-deal Brexit would hammer output, UK firms warn: BoE survey

Reuters  |  LONDON 

LONDON (Reuters) - British businesses expect their output to drop sharply if Britain leaves the European Union next year with no deal and no transition, a Bank of England survey showed on Tuesday.Prime Minister Theresa May's Brexit plan has been agreed with the EU but faces deep opposition in parliament where it faces a vote on Dec. 11, raising the risk of no-deal Brexit economic shock.The output of businesses would drop between 2.5 and 6.9 percent over the next 12 months in such a scenario, the BoE's survey of 369 companies suggested.By contrast, output could rise between 0.8 percent and 2.7 ...

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First Published: Tue, December 04 2018. 15:55 IST