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Official forecasts, businesses and unions place pressure on MPs to accept May's Brexit deal

A no-deal scenario could cause a deep recession, rise in unemployment and further sterling devaluation

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In a scenario analysis of the Brexit economic risks, the Bank of England and the UK Treasury said Prime Minister Theresa May's deal, which has a transition period and is relatively close to the Common market, has the best prospects for the country.

London

THE Bank of England (BOE) and UK Treasury have stated in no uncertain terms that a crash out from the European Union (EU) could cause a deep recession, a rise in unemployment, further sterling devaluation and higher inflation.

In a scenario analysis of the Brexit economic...

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