04:36 GMT31 July 2021
Listen Live
    Get short URL
    Britain Says 'Cheerio' to EU (463)

    The United Kingdom’s Treasury may lose up to 66 billion pounds ($82 billion) in tax revenues annually in case of the so-called hard Brexit that would leave the country without access to the EU single market, The Times reported Tuesday citing leaked government papers.

    MOSCOW (Sputnik) — According to the documents, if the United Kingdom complies with the World Trade Organization rules instead of using benefits of access to the EU single market, while trading with the bloc post-Brexit, the country's GDP may fall by up to 9.5 percent.

    On June 23, the nationwide referendum on EU membership was held in the United Kingdom, in which 51.9 percent of voters said the country should leave the bloc. UK Prime Minister Theresa May promised to start the procedure of leaving the European Union by the end of March 2017.

    Britain Says 'Cheerio' to EU (463)


    Brussels Facing Legal Challenges Over Brexit Trade Negotiations
    British PM Theresa May Holds Key Brexit Talks With Dutch, Danes
    Sterling Pounded: Prime Minister May's Brexit Schedule Shocks Currency Market
    'American Brexit': TPP Failure Could Hurl US Onto UK's Path of Decline
    Britain, Brexit
    Community standardsDiscussion