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The Brexit proposals floated by Prime Minister Boris Johnson entail a bigger economic cost than what was agreed by his predecessor Theresa May, according to The UK in a Changing Europe.
The difference between the two comes from leaving the customs union with the European Union, not having level playing field arrangements and a limited or no free trade agreement after Britain leaves.
The impact of departing under Johnson's proposals would be as much as 7% of gross domestic product per capita after 10 years compared with staying in the EU, the think tank said. May's deal would cost as much as 5.5% of GDP per head, while a no-deal Brexit would cause a drop of as much as 8.7%.
To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, David Goodman
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