The toxic legacy of Theresa May, the PM who legitimised no-deal Brexit

British food exporters would face tariffs of 14 per cent, according to the Centre for European Reform (CER). Car imports would face a 10 per cent tariff, and supply chains would be massively disrupted. Many British products would no longer be accredited to sell across the EU. British airlines could no longer be able to fly to, or within, Europe.

...The pound would likely fall and inflation would rise. “The result would be a deep recession, which would hit tax revenues and weaken the government’s ability to impart a fiscal stimulus to support the economy,” write John Springford and Simon Tilford of the CER.