US EUROPE AFRICA ASIA 中文
World / Europe

Brexit to be costly for Britain: CBI survey

(Xinhua) Updated: 2016-03-22 09:01

LONDON - Brexit would be more costly than remaining in the European Union (EU), according to a survey released Monday by the Confederation of British Industry (CBI).

The CBI representing businesses employing one third of the British workforce, commissioned professional services firm PricewaterhouseCoopers (PwC) to model two scenarios for Brexit after the referendum on June 23 on whether to stay in the EU or leave the bloc.

PwC said in its report there was more uncertainty outside the EU "particularly in terms of future trading relationships," and that the two contrasting scenarios were intended to "capture this uncertainty."

The optimistic scenario rested on Britain's achieving a free trade agreement with the EU within five years, while the pessimistic scenario modelled the trade conducted under current World Trade Organization (WTO) rules.

Under the optimistic scenario, Britain's GDP would be three percent lower in 2020 than what it would be if there was no Brexit, a reduction of 55 billion pounds (about 79 billion U.S. dollars) at 2015 prices, while under the pessimistic scenario, the economy would be 5.5 percent smaller, a reduction of 100 billion pounds at 2015 prices.

In the longer term, the disruptive effects of an exit would lessen, with GDP forecast to be between 1.2 percent and 3.5 percent smaller under the optimistic and pessimistic scenarios respectively, a cost of between 25 billion pounds and 65 billion pounds.

Carolyn Fairbairn, director general of the CBI, said at the unveiling of the report at the London Business School, that savings from reduced EU budget contributions and regulation would be "greatly outweighed by the negative impact on trade and investment."

She added: "Without a free trade deal, 90 percent of British exports to the EU, by value, could face tariffs. Some sectors could be hit particularly hard. Under WTO rules, British textile exports to the EU could face tariffs of nearly 10 percent. Transport equipment could face tariffs of about 7 percent."

Andrew Sentance, senior economic adviser to PwC, said: "The three big impacts of leaving the EU... are increased uncertainty, a negative shock to trade and investment, and reduced labor supply through migration."

He added: "While the potential to reduce the burden of regulation and lower fiscal contributions to the EU could be offsets, the net impact of Britain's leaving the EU is still likely to be negative for GDP, employment and living standards, both in the short term and the long term."?

Trudeau visits Sina Weibo
May gets little gasp as EU extends deadline for sufficient progress in Brexit talks
Ethiopian FM urges strengthened Ethiopia-China ties
Yemen's ex-president Saleh, relatives killed by Houthis
Most Popular
Hot Topics

...
主站蜘蛛池模板: 妖精动漫在线观看| 欧美性色xo影院在线观看| 国产第一区二区三区在线观看| 一级特黄录像绵费播放| 欧美zoozzooz性欧美| 免费人成无码大片在线观看| 麻豆精品不卡国产免费看| 在线成年人视频| 丰满人妻一区二区三区视频53| 欧美成人另类人妖| 八戒网站免费观看视频| 香蕉免费在线视频| 国产精自产拍久久久久久蜜 | 大桥未久aⅴ一区二区| 久久99国产精品久久99小说| 欧美aaaaaa级爽激情会所| 亚洲色偷偷色噜噜狠狠99| 美国式的禁忌80版| 国产在线精品一区二区中文| 2015天堂网| 天堂а√8在线最新版在线| 中文字幕25页| 日本熟妇人妻xxxxx人hd| 亚洲一区爱区精品无码| 永久黄网站色视频免费| 军人武警gay男同gvus69| 门国产乱子视频观看| 国产男女无遮挡猛进猛出| 999国产精品999久久久久久 | 无毒不卡在线观看| 久久综合九色欧美综合狠狠| 欧美成人全部视频| 亚洲色图欧美另类| 真实处破疼哭视频免费看| 国产ssss在线观看极品| 狠狠色欧美亚洲综合色黑a| 国产精品美女久久久久av福利| a成人毛片免费观看| 巨肉黄暴辣文高h文奶汁| 九九免费精品视频在这里| 欧美性xxxxx极品老少|