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World

Warning over cost of 'hard' Brexit

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Opening sequence

World

Warning over cost of 'hard' Brexit

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COMING UP:Warning over cost of 'hard' Brexit

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Transcript

00:00:00
>> A hard Brexit could cost Britain up to 66 billion pounds a year. That's according to leaked government papers that suggest leaving the single market on WTO rules would cause GDP to fall by up to 9.5%. The draft cabinet committee paper was seen by the times, and is based on forecasts published back in April by then Chancellor George Osborne.
00:00:23
They were heavily criticized back then and their author has since been sacked. But the treasury is apparently standing by the calculations. It follows the survey by the British Chamber of Commerce which showed business investment in turnover confidence had hit four year laws
SOUND],
hile sterling is also languishing in the debts.
00:00:40
Still close to the 31 year laws hit in the wake of last weeks flash crash. Despite all that loop, there doesn't appear to be much softening in the parts of government that matter. The so called Brexit minister David Davis sticking to his guns on Monday telling MPs the UK could hope to be incredibly successful outside the single market.
00:01:02
The leave or remain fight now battle of hard versus soft.