On 5 October, Baker McKenzie released a new report which explores how the pandemic, coupled with an eventual deal or No-Deal Brexit, will impact the bottom-line of UK businesses and the economy. It looked at how a No-Deal Brexit will affect 4 UK goods manufacturing sectors — automotive, consumer, healthcare and technology — as well as UK GDP over the next decade. It reveals the real costs of both Brexit and the COVID-19 crisis in the long-term, forecasting a potential £134 billion (6%) reduction in UK GDP over the next decade as compared with 2019, as a result of the impact of the pandemic and a potential No-Deal Brexit.
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