Over the next fifteen years, the North East of England could experience a 10.5 percent fall in Gross Value Added (GVA) if the UK enters a No Deal Brexit situation. forecasts the region will be hardest hit, with the West Midlands and Yorkshire and the Humber second at “nearly 10 per cent” . For Northern Ireland, which is heavily dependent on trade with the EU (74 percent of all exports), a decline of 9.1 percent is forecast. London is expected to be the least affected, but would still suffer a 6 percent decline, according to the analysis.
Over the next fifteen years, the North East of England could experience a fall of 10.5 percent in gross value added (GVA) to the economy if the UK ends up in a no deal Brexit situation. According to Confederation of British Industry (CBI) forecasts , the region will be the worst affected, with the West Midlands and Yorkshire and the Humber in joint second with “nearly 10 percent”. Northern Ireland, which is heavily reliant on trade with the EU (74 percent of all exports), is forecast to see a 9.1 percent drop. London is expected to be the least affected, but would still suffer a 6 percent decrease according to the analysis.
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