The prospects for ‘no deal’ to be agreed between the UK and the EU have increased in recent weeks.
A lot has been written about the potential long-term economic implications from Brexit. All else remaining equal, the larger the economic barriers between Scotland and its main international trading partner, the greater the potential hit to the country’s growth potential.
But very little has been written about what the implications might be in the short-run from ‘no deal’….beyond “bad” or “very bad”.
In this blog we try to unpick some of the key issues surrounding what a ‘no-deal’ might mean for the economy and just why it is so difficult to forecast.