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The Brexit agreement makes Britain better # 39; even though there are bad economic forecasts

Theresa May has claimed her Brexit agreement will make Britain "better" as she defends her agreement in the face of official economic forecasts that predict a blow to growth.

Exiting the European Union under the government's plan can cut UK gross domestic product (GDP) between 2.5% and 3.9% compared to living in the block, works by the Ministry of Finance and other Whitehall departments revealed.

An 83-page document published on Wednesday did not provide specific analysis of the Brexit agreement which the prime minister tried to push through parliament.

But it analyzed the possible impact of the proposals approved by the cabinet at Checkers in July and set forth in the next white paper of the government.

It also modeled the impact of Britain securing Norwegian-style relations with the European Union after Brexit, Canada-style free trade agreements with blocks, and the Brexit effect of "no agreement".

In each scenario, the UK economy is expected to grow over the next 15 years, but not as fast as it will without leaving the European Union.

No Brexit agreement could see economic growth up to 10.7% less, said the analysis.

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Mrs. May used the analysis to continue pressing the case for her Brexit agreement, as she faced fighting to convince lawmakers to support her approval in the December 11 House of Representatives elections.

Speaking during the Prime Minister's question, he said: "This analysis does not indicate that we will be poorer than the status quo today.

"What the analysis shows is that this is a strong economy that will continue to grow and that a model that truly provides the best in voting for the people of England – and for our work and economy – is a model that the government has put forward."

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In an interview with Sky News earlier, Chancellor Philip Hammond said the analysis showed the prime minister's Brexit agreement offered political benefits because it was outside the European Union with "very little economic costs".

The Whitehall document was followed later on Wednesday by publication even more dramatic predictions by the Bank of England.

It claims no Brexit agreement could see the UK economy shrink by almost 8%, the price of the pound slumped, a 30% slump in house prices, unemployment almost doubled and inflation turn to 6.5%.

Chancellor Philip Hammond discussed the costs of Brexit in the British economy.


Hammond: The Brexit deal has a very small impact & # 39; towards the British economy

Bank of England Governor Mark Carney stressed that the work did not represent a forecast but instead was the "worst version" of the Brexit agreement to help him "prepare for all possibilities".

He also reported that the UK banking system was strong enough to withstand unorganized Brexit.

But, Mr Carney's explanation of the work of the bank did not satisfy Brexiteers.

Bank of England Governor Mark Carney explained the agency's approach to the worst-case scenario in Brexit


Carney: & # 39; Our task is not expecting the best but preparing for the worst & # 39;

Euroseptic Leading Tory Jacob Rees-Mogg branded the governor's bank as "a Canadian second-tier politician who failed to enter Canadian politics and get a job in England".

He told Sky News: "I don't think he is very respected and he is very politicized with the damage to the reputation of the Bank of England."

Those who want a second Brexit referendum use multiple economic analysis to push their claims to get a new public vote on EU membership.

With the prime minister expected to be more than 60 votes lower than the majority he needs for the House of Commons to approve the Brexit agreement, shadow chancellor John McDonnell suggested the new referendum might be "inevitable".

Brexiteer Jacob Rees-Mogg is unsure by Mark Carney & # 39; s there is no assessment of Brexit agreement


Rees-Mogg savages & # 39; second class & # 39; Carney

Acknowledging it would be "very difficult" to force elections even if lawmakers voted for the Brexit agreement, Mr McDonnell told the BBC: "If that is not possible we will call on the government then join us in a public vote.

"And, once again, it's difficult to judge at each stage. But that's the order that I think we will go through during this period."

Speaking on a trip to Scotland later, as he continued his tour of England in an effort to sell his deal, the prime minister claimed McDonnell's comments represented "the true position of the Labor Party".

"Labor just wants to derail Brexit, they want to oppose and cancel the vote of the British people," he said.

Before the Brexit vote on December 11, Mrs. May might face further headaches.

House Speaker John Bercow said he would consider whether the government had acted "insulting" parliament if it continued to refuse to publish full legal advice on the withdrawal agreement.

On Wednesday night, the government revealed it would accept up to six amendments to a motion in which lawmakers would hold their "meaningful vote" on the Brexit agreement, which could push for a final effort for a "soft" second referendum.

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