+UPDATE+
UK Treasury officials have pivoted to planning a no deal combined with higher taxation strategy post January. Previous research based on a "free trade Brexit" now seen as "unrealistic" in a post COVID global environment.
UK Treasury officials have pivoted to planning a no deal combined with higher taxation strategy post January. Previous research based on a "free trade Brexit" now seen as "unrealistic" in a post COVID global environment.
2/
UK Govt "highly conscious" that "significant expenditure will have to be distributed" to the "instant losers" of COVID & Brexit. No or limited deal with EU now seen as most likely outcome but in a "totally changed landscape" than imagined just last year.
UK Govt "highly conscious" that "significant expenditure will have to be distributed" to the "instant losers" of COVID & Brexit. No or limited deal with EU now seen as most likely outcome but in a "totally changed landscape" than imagined just last year.
3/
Consensus now emerging in Whitehall, that Britain will "not likely" sign "significant" trade deals with either EU or US & many other target states anytime soon. So the post Brexit economic model may have to radically change from one foreseen previously.
Consensus now emerging in Whitehall, that Britain will "not likely" sign "significant" trade deals with either EU or US & many other target states anytime soon. So the post Brexit economic model may have to radically change from one foreseen previously.
4/
There's also an awareness, and increasing acceptance, in govt that the "Gove view" that Brexit must be shown to be a success from the start means that higher taxes and/or higher borrowing are now unavoidable in order to ensure Brexit is "not tainted" by economic disaster.
There's also an awareness, and increasing acceptance, in govt that the "Gove view" that Brexit must be shown to be a success from the start means that higher taxes and/or higher borrowing are now unavoidable in order to ensure Brexit is "not tainted" by economic disaster.
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