A so-called 'hard Brexit' could cost the UK around $80bn a year in lost tax revenues, according to leaked government papers.
The Times newspaper reports cabinet ministers are being warned that if Britain leaves Europe's single market and adopts World Trade Organisation rules, economic output could fall between 5.4% and 9.5% within 15 years.
But Brexit supporters say the Treasury is continuing to use scare tactics and that these predictions are unrealistic.
Reporter Roz Unwin has more.
IN: "The draft…
OUT: …single market."
DUR: 24 seconds
http://www.fsnradionews.com/feeds/1011brexit-unwin1.mp3
The Times newspaper reports cabinet ministers are being warned that if Britain leaves Europe's single market and adopts World Trade Organisation rules, economic output could fall between 5.4% and 9.5% within 15 years.
But Brexit supporters say the Treasury is continuing to use scare tactics and that these predictions are unrealistic.
Reporter Roz Unwin has more.
IN: "The draft…
OUT: …single market."
DUR: 24 seconds
http://www.fsnradionews.com/feeds/1011brexit-unwin1.mp3