This paper examines the macro-economic benefits of the Single Market in goods and services by simulating a counterfactual scenario in which tariffs and non-tariff barriers are reintroduced. In this counterfactual scenario, intra-EU trade flows are significantly reduced.

If the UK leaves the European Union single market without a suitable trade deal, then electricity trade with its European Union partners could be disrupted. New research estimates the 2030 cost of a hard electricity Brexit to Britain at €300 million per year.