Brexit could be four times as expensive for the UK as it is for the EU

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Flags of the EU and Great Britain (symbolic image)

Photo: Steve Parsons / dpa

According to calculations by the European Commission, Brexit could be significantly more expensive for Great Britain than for the member states of the European Union.

According to an official forecast by the Commission, an official forecast by the Commission states that the exit will result in an average loss of around 0.5 percent of gross domestic product for EU countries by the end of 2022 (compared with continued membership of Great Britain).

In the UK, on ​​the other hand, the loss over the two years could be around 2.25 percent.

That would correspond to a sum of more than 40 billion pounds.

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The calculations are based on a static model based on the OECD figures, the paper says.

On this basis, expectations were set up as to how the trade barriers created by Brexit could affect national economies.

According to the European Commission, the losses would have been even higher if a hard Brexit had occurred without a trade agreement.

In December, Great Britain and the European Union agreed on a free trade agreement.

According to this, trade between the parties remains duty-free, but British exporters to the EU have to laboriously prove that their products were mainly manufactured in their own country.

Evidence of compliance with EU food safety rules and product standards will also have to be provided in future.

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