On 28th November 2018 the Government laid before Parliament the document entitled, “EU Exit: Long-term economic analysis” which was intended to facilitate parliamentary scrutiny ahead of the Meaningful Vote on the final deal. The purpose of this analysis was to illustrate high level impacts on the UK from different EU Exit scenarios. It included associated costs for five broad sector groups across the economy, which together cover the majority of the UK economy and all traded goods and services:
○ Manufactured Goods (including Iron & Steel);
○ Services (Non-Financial and Non-Networks);
The macroeconomic modelling tools used for this analysis do not allow for disaggregation of results at individual sector level.
Extensive engagement has also taken place and is continuing between Government and the steel industry, to better understand the implications of different no-deal scenarios on the sector.