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posted on 1/11/2018 18:38nah..... - Gav

A disorderly no-deal Brexit would plunge the UK into recession, cost a million Britons their jobs and leave households an average of £2,700 a year out of pocket, according to a leading global credit rating agency.

Standard & Poor’s said that the UK’s AA sovereign rating, the third highest grade, would be cut if Theresa May failed to secure a deal.

It forecast that this would shrink the economy by 1.2 per cent next year and 1.5 per cent in 2020. The resulting recession would push debt as a share of GDP close to 100 per cent by 2021 as borrowing soared, compared with its baseline forecast of 85 per cent, S&P said.

It forecast a jump in unemployment from 4 per cent to 7…

 

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