No-deal Brexit impact on West Midlands could reach £18bn a year

The cost of a no deal Brexit to the West Midlands could reach £18bn over the next 15 years, according to estimated from business group the CBI.

Its analysis of the effect of leaving the EU without a deal on the annual loss of output has shown the region would be among the worst affected.

“Like the rest of the UK, the West Midlands is not – and cannot be – ready for no deal,” said Richard Butler, regional director for CBI West Midlands.

“The projected impact on our region’s economy would be devastating and while business will do all it can to reduce some of the worst aspects, a no deal scenario is unmanageable.”

“It’s time to put our region’s prosperity before party politics and dogma.”

The CBI has said the automotive sector “is likely to be severely impacted”, echoing concerns from key manufacturers including Jaguar Land Rover about the increased costs and risks to smooth supply chain movements of a bumpy or bad exit.

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