Breugel, a European think tank believes it is important for us to remain in the single market (HERE) even to the extent of paying money to the EU. They say we will be affected by brexit much more than the EU and WTO tariffs will add £4.5 billion to the costs of the automotive industry alone.
While other sectors like chemicals/minerals and electronics/optical equipment will be much less affected other service based sectors like retail, distribution and finance will be, albeit to a lesser extent than cars.
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