Boris Johnson's promise, "to do or die," to get the UK out of the EU, along with extravagant tax cuts, could destroy half of the savings since 2010, or else say, 1% of GDP, production by about 0.3%. This economic stimulus runs the risk of being suppressed by Brexit without a deal that could lower GDP by as much as 2% in 2023-24. Together, a black hole of more than 50 billion pounds can be opened up in public finances.
Source: Bloomberg Finance L.P.
Graphics: Used with permission from Bloomberg Finance L.P.
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