Public borrowing 'could double in 2020 as result of no-deal Brexit', OBR cautions

19 Jul 2019

The Office for Budget Responsibility (OBR) has warned that public borrowing could double next year if the government fails to secure a Brexit deal.

According to the OBR, public borrowing could reach £60 billion if the UK leaves the EU without a deal. If the UK does secure an advantageous Brexit deal, borrowing is likely to reach £29.3 billion, the OBR stated.

It also said that a 'disruptive or disorderly' Brexit could 'hit public finances much harder', and cautioned that the impact of Brexit will 'continue to unfold for many years'.

The UK is set to leave the EU on 31 October 2019.

Commenting on the findings, Chancellor Philip Hammond said: 'The report that the OBR has published shows that even in the most benign version of a no-deal exit, there would be a very significant hit to the UK economy.'


Buyacarehome Surrey Care Association dorset Hampshire Care Association BHHPA BDPCPF CAre England Supplier Member National Activity Providers Association

Quick Links

Home | Contact us | Accessibility | Disclaimer | Privacy Notice | Help | Site map | © 2019 Morris Lane. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


Contact Us

Please call:
01202 715950

Address

Morris Lane
31/33 Commercial Road
Poole
Dorset
BH14 0HU

To locate us easily please use our 3 word address (studio.peanut.rescue)