Post-Brexit customs union would make Britain 3 percent poorer - NIESR

Britain’s economy will be around 3 percent poorer over the long term if it leaves the European Union and retains a customs union with the bloc, the option favoured by the opposition Labour Party, academic forecasters predicted on Thursday.

The National Institute of Economic and Social Research (NIESR) said the long-run loss after 10 years, compared to staying in the EU, would be equivalent to around 800 pounds per person per year.

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