On June 23, the nationwide referendum on EU membership was held in the United Kingdom, in which 51.9 percent of voters said the country should leave the bloc. UK Prime Minister Theresa May promised to start the procedure of leaving the European Union by the end of March 2017.
'Hard Brexit' to Slash Up to $82Bln Annually From UK
06:34 GMT 11.10.2016 (Updated: 15:29 GMT 28.05.2023)
The United Kingdom’s Treasury may lose up to 66 billion pounds ($82 billion) in tax revenues annually in case of the so-called hard Brexit that would leave the country without access to the EU single market, The Times reported Tuesday citing leaked government papers.
2 August 2016, 15:54 GMT
MOSCOW (Sputnik) — According to the documents, if the United Kingdom complies with the World Trade Organization rules instead of using benefits of access to the EU single market, while trading with the bloc post-Brexit, the country's GDP may fall by up to 9.5 percent.