benefits: The warning comes a year after the Paris-based organisation pointed out the benefits of a second referendum and a vote to remain in the EU to save the UK from a severe economic shock. oecd forecast In its latest quarterly report, the OECD side-steps the potential gains from a fresh vote, but argues that the UK must maintain the highest levels of cooperation possible with Brussels, according to The Guardian. It also repeated its warning made last year that the failure to come to a withdrawal agreement with the European Union is by far the greatest risk in the short term . It said a no-deal scenario could subtract more than 2% from real GDP over two years, amounting to 40bn Brexit is an important source of political uncertainty. The thinktank, which advises 34 of the world's richest countries, appeared to support Theresa May's deal with the EU, or an even closer alternative, as the best way to avoid harming the UK economy and placing extra strain on global growth. It is imperative that the EU and the UK manage to strike a deal that maintains the closest possible relationship between the parties, the OECD said. By contrast, prospects of maintaining the closest possible economic relationship with the European Union would lead to stronger-than-expected economic growth, it said. The lack of details on the future relationship between the United Kingdom and the European Union or the extension of the transition period, and the resulting uncertainties, could incite businesses to delay investment plans further.
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