OBR warns of major Brexit tax risks
The one-off hit of a large 'divorce bill' between Britain and the EU would not be too hard for the public finances to absorb, the OBR said. Instead, it added: "More important are the implications of whatever agreements are reached with the EU and other trading partners for the long-term growth of the UK economy."
It calculated that over a 50-year period, the economy could be 4.8% smaller if Brexit-related events lead to a loss of 0.1 per cent in productivity. The direct impact would be to increase the debt to GDP ratio by 50%, which could produce tax rises.