Prime Minister Theresa May insisted that the UK would be “better off” under her Brexit deal, even after a government analysis suggested that the economy could be 3.9 percent smaller compared with staying in the EU.
A no-deal Brexit could result in a 9.3 percent reduction in GDP after 15 years, according to the analysis published on November 28. May appears to be facing defeat on December 11, when members of Parliament will vote on the deal agreed upon by EU leaders November 25.
My news story for Worldwide Tax Daily, published by Tax Analysts on November 29 (paywall). This story was also published in the December 3 edition of Tax Notes International: May Unmoved by Government’s Brexit Impact Assessment