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6 Jul 2018
The UK economy is set to have its worst year since 2009, according to one report this week, while another claims that a no-deal Brexit would cost £1,000 per British household.
The British Chambers of Commerce cut its 2018 growth forecast to 1.3% from 1.4%. It blamed uncertainty around a range of factors from the Brexit negotiations to Donald Trump's threats of a trade war.
The news comes as consultancy Oliver Wyman published a report claiming that the cost of Brexit to households could be as high as £1,000 per year.
In a scenario where the UK reverted to the World Trade Organisation most-favoured-nation import tariffs, experts expect the price of a typical weekly grocery shop to go up by £5.50