Ten Things You Need to Know Today: Thursday 18 Jul 2019

1. No-deal Brexit ‘will send UK into recession’

The UK economy will shrink by 3% if Britain leaves the EU without any arrangement for future trading, the Office for Budget Responsibility is expected to predict today. In its first assessment of the economic impact of a no-deal Brexit, the independent body predicts the economy will contract in 2020 as the UK officially enters into a recession, but will then recover the following year, The Times reports. However, GDP will still be at least 3% lower under a no-deal, according to the five-year forecast.

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