Crisis has led to 500% increase in Britons taking up citizenship in an EU state

The United Kingdom has passed the point of no return. It has less than six months to reach a new trade deal with the European Union or risk heaping more pressure on companies that are already laying off tens of thousands of workers because of the coronavirus pandemic.

Britain is already heading for the worst coronavirus-induced slump of any major economy. Now fears are rising that businesses could be slammed by a second body blow this year — the failure of trade talks with the European Union.

Dame Carolyn Fairbairn likens walking away from trade talks to ‘setting fire to the garden shed’ when the house is already in flames.

European commission looks at tax rules after report reveals tech firms pay less than half the tax of traditional companies.

Annual growth will fall below 1% for first time in decade even with a deal, says thinktank.

Membership of the European Union has contributed to the economic prosperity of the United Kingdom. Uncertainty about the outcome of the referendum has already started to weaken growth in the United Kingdom. A UK exit (Brexit) would be a major negative shock to the UK economy, with economic fallout in the rest of the OECD, particularly other European countries.

Household incomes are around £1,500 year lower today than they were expected to be before the Brexit referendum – with the UK having experienced the sharpest income growth slowdown of any economy for which the OECD publish data.

Denmark is the largest importer of pork to the UK but that position is under threat if no deal is struck.