Britain has clinched a last-minute trade agreement with the European Union that will preserve its zero-tariff and zero-quota access to the bloc’s single market of 450 million consumers.
But it is a thin deal that will not prevent economic pain and disruption for the United Kingdom or for EU member states, and many aspects of Britain’s future relationship with the EU remain to be hammered out, possibly over years.
The UK government’s Office for Budget Responsibility (OBR) forecast that, with a deal, Britain would see a loss of output of around 4 per cent over 15 years compared to remaining in the EU. Read more…..
Chart of the Day
A young Mark Zuckerberg sat down with CNBC in 2004 to discuss “The Facebook” in the early days of his company.