LONDON : The combination of COVID-19 and a failure to secure a post-Brexit trade deal with the European Union could cost the United Kingdom around 134 billion pounds ($174 billion) each year in lost GDP for a decade, research by law firm Baker & McKenzie showed.Prime Minister Boris Johnson has set Oct.
15 as a deadline for clinching a post-Brexit trade deal which would kick in when the United Kingdom leaves informal EU membership at the end of this year.The COVID-19 outbreak will cut Britain's GDP by 2.2% below the levels anticipated before the outbreak, Baker & McKenzie said in a report titled "The Future of UK Trade: Merged Realities of Brexit and COVID-19."On top of that, Brexit, even with a trade deal, would cut GDP by 3.1% in the.