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A 'Hard Brexit' is going to cost Britain's economy £66 billion a year in lost revenue

Britain's government predicts that a "Hard Brexit" — Britain leaving the European Union without access to the Single Market — will cost the UK £66 billion ($81.2 billion) a year in lost tax revenues. According to "leaked government papers" seen by The Times newspaper, the UK Treasury is warning cabinet ministers that the country's GDP could fall as much as 9.5% because it would have to rely on the World Trade Organisation rules for trading and therefore it would miss out on more favourable trading tariffs that come with being a member of the 28-nation bloc.
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