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No deal Brexit means Recession by the end of 2020: OBR

A no-deal Brexit would plunge Britain into a recession, with the economy shrinking by two per cent by the end of next year, according to the Office for Budget Responsibility (OBR), the UK Government's independent forecasting body. It says increased uncertainty and falling confidence would hit investment, sterling and trade. In its latest Fiscal Risks Report the OBR says: "Together, these push the economy into recession...Real GDP falls by 2% by the end of 2020 and is 4% below our March forecast by that point."

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