A leaked impact assessment report from the the UK government has shown that in all three possible outcomes from departure from the EU will have a negative economic result. So with the three options:
1. No deal which the report suggests economic growth would be down 8% over 15 years
2. A free trade deal is negotiated which would result in an anticipated downturn in economic growth of 5%
3. The UK continues to work within the rules of the single market which has a forecast downturn of 2%
These scenarios are all contingent on a new deal with the USA. The leak comes the day after Donald Trump threatened a trade war with the EU as he continues to espouse his protectionist rhetoric. If a deal was done with the US the positive impact to the UK economy is being quoted at 0.2%.
As yet the Prime Minister Theresa May and David Davis have yet to comment on the leaked report. What is clear is that it will have done nothing to strengthen of the UK’s position.