Brexit: the regional impact

Businesses fear the UK is hurtling towards no deal - but what is the economic impact on our regions and nations? With Parliament in deadlock and businesses fearing a no deal is more likely, the CBI has analysed government figures to highlight the regional impact this scenario would have.

The North East, North West and West Midlands

With 59 percent of its goods exports going to the EU, the North East could be among the regions most exposed to the economic fall-out from leaving the EU without a deal. If the UK fails to secure a deal, the region’s real GVA – a measure of the value of goods and services produced in the region – could be 10.5 percent lower by 2034 than under the UK’s current arrangements with the EU.

This could amount to an annual loss of output worth £7bn by 2034 (in today’s prices), equivalent to twice the amount of public s