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Britain worse off under any Brexit scenario: Report

LONDON: The UK government was under pressure yesterday to publish its latest Brexit analysis after a leaked internal report said Britain would be worse off whatever deal it strikes with the EU.

The economic impact assessment, drawn up for the Brexit ministry and seen by the BuzzFeed News website, showed growth would be lower under a range of potential scenarios.

The leak came as Prime Minister Theresa May prepared to fly out on a three-day trade mission to China.

Parliament's upper House of Lords is also scrutinising the EU (Withdrawal) Bill, a key plank of Brexit legislation.

The study, done this month, is titled EU Exit Analysis, and examined three of the most plausible Brexit scenarios.

It found that if Britain remained in the European single market, growth would be 2 per cent lower over the next 15 years compared with current forecasts.

Under a comprehensive free trade agreement with the European Union, growth would be 5 per cent lower, it said.

And if London and Brussels end up with a "no deal" scenario and revert to World Trade Organisation rules, growth would be reduced by 8 per cent over the same period, the report said, according to BuzzFeed News. - AFP

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