ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Residential demand upbeat despite construction cost, interest rate rise; brokerage picks DLF, Oberoi Realty among top 4 bets
  • Copper Set to Post Worst Quarterly Performance in Over 2 Years
  • Maruti Suzuki Brezza 2022: Launch today! Check key highlights; live streaming link here
  • Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more
  • Ratnamani Metals bonus share: Stock jumps 15%, hits 52-week high ahead of record date
Read in App
Business News » World News

No-deal Brexit may cut Scottish GDP up to seven percent: Scotland's chief economist

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Scotland`s economy could shrink by up to 7 percent if Britain leaves the European Union without a deal on March 29, according to a report by the Scottish government`s chief economist Gary Gillespie on Thursday.

Last year, the Bank of England said the UK economy could slump as much as 8 percent if Prime Minister Theresa May fails to reach a deal in time. Scotland makes up less than one tenth of Britain`s overall economy but is responsible for the United Kingdom`s biggest food and drink exports, such as whisky and salmon.

The report set out two "no-deal" scenarios for Scotland, one which saw a few months of supply chain disruption and a second which predicted longer term disruption.

Trade would be damaged, it said, with the potential for a drop in Scottish exports of up to one fifth and a fall in business investment of up to 1 billion pounds ($1.3 billion) in 2019.

Gillespie, whose role is independent of the devolved Scottish government, also spoke of a depreciation in sterling of up to 30 percent and a consequent fall in migration on which Scotland`s sparsely populated outlying regions, tourism and fresh food production depend to a large extent.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Thu, Feb 21, 2019
05:44 am
Reuters
RELATED NEWS
Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana are the Top Achievers in BRAP 2020  Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana are the Top Achievers in BRAP 2020
PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme
Asian shares end quarter in sombre mood, dollar on high Asian shares end quarter in sombre mood, dollar on high
Money Guru: How will rising interest rates in the US affect the Indian markets? Is this an opportunity to increase investment or is it a time to act wisely? Expert decodes Money Guru: How will rising interest rates in the US affect the Indian markets? Is this an opportunity to increase investment or is it a time to act wisely? Expert decodes
47th GST Council Meeting Outcome News: All you need to know about result of Chandigarh meet 47th GST Council Meeting Outcome News: All you need to know about result of Chandigarh meet

LATEST NEWS

Closing Bell: Nifty below 15,800, Sensex ends flat; Metal, IT, auto stocks top losers

2022 Maruti Suzuki BREZZA: Maruti Suzuki launches New Brezza today, Check price, features, and more

Apple iPhone users can transfer any data from Android 12 phones - Check details

FIIs monthly selling highest since November 2020, but is it nearing exhaustion? Details

Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more

Samsung Galaxy F13 India sale begins today via Flipkart - Check price, offers, specifications and more

47th GST Council Meeting Outcome News: All you need to know about result of Chandigarh meet

Swiss franc jumps, euro trims declines against U.S. dollar

Poco F4 5G vs iQOO Neo 6 5G: Which one to buy? Check comparison - price and full specifications

Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV