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Chancellor Hammond finally comes clean - Brexit will make you poorer

The Chancellor Philip Hammond has finally confirmed what he and everyone else has known for the last two years — all Brexit scenarios damage the UK economy. The full Treasury analysis is here. Health warning: the government has NOT modelled Mrs May's deal (because it does not exist) or the Backstop arrangement. Its deal data reflects the now chucked Chequers plan. The Bank of England pretty much endorses the Treasury's work. Its own modelling suggests that a "disorderly" or No Deal Brexit will produce a financial shock greater than the 2008 crisis.

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