Finance Forex

Brexit Brief: U.K. can swerve a no-deal disaster, say economists

Brexit Brief: U.K. Can Swerve A No Deal Disaster, Say Economists paper is one about the Finance, Forex lists, written during our reporter Erick Emerson much as February 6, 2019, these chapter can search immediately upon these tags Brexit, Disaster, economists, nodeal, swerve, UK. I am satisfied to happy you as well providing this anothers section belonging finance moreover I am always updating those part frequenlty.

The U.K. could avoid a recession if it crashes out of the European trading bloc without a deal, according to a paper published by Britain’s oldest independent economic research institute.

A study from the National Institute of Economic and Social Research found that the negative repercussions of a disorderly Brexit could be mitigated by proper contingency planning among both British and European Union politicians. Tax cuts and extra public spending would provide a further boost, the researchers said.

The report contrasts with predictions from the Bank of England, which in November warned that a crash-out Brexit could cause more damage to the U.K. economy than the global financial crisis.

With just 51 days until the U.K. is legally obliged to leave the EU, a no deal exit is looking increasingly likely.

Efforts by the ruling Conservative Party to agree alternatives to the so-called Irish backstop — a highly-contentious plan to avoid a hard border in Ireland — hit a stumbling block on Tuesday when the British Prime Minister Theresa May made clear that she didn’t intend to abandon the plan altogether.

That has her party’s most ardent Brexiteers, who want to rip up the plan, and cast serious doubt over the ability of warring factions to find common ground over the future direction of Brexit.

Sterling ticked up on the news a crash-out Brexit may not prove cataclysmic, from $1.29320 at 7:40 GMT to trade at $1.29671 around 9:30 a.m. U.K. time.

Elsewhere, the real estate agency Avison Young has warned that reduced deal making, dampened sentiment from developers and falling house prices will be the short term effects of Brexit on U.K. property markets.

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