PressTV-‘UK wealth to shrink significantly under Brexit deal’

A major study suggests a controversial deal on withdrawal of the United Kingdom from the European Union, negotiated and championed by Prime Minister Theresa May, would rob the country of a significant portion of its wealth over the next decade.

The study summed up in a Monday report by The National Institute of Economic and Social research showed that Britain will lose the size of Wales or the City of London’s economic value by 2030 if May’s Brexit deal with the EU is enforced after March 29, 2019, when the country officially leaves the EU.

The report said the Brexit deal would leave Britain better off than withdrawing from the EU without an agreement, but it insisted that it could cost Britain dearly as the country could lose up to three percent of its Gross Domestic Product, or GDP, each year until 2030.

It also added that under the agreement, Britain will enjoy less trade, reduced foreign investment and lower levels of migration over…

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