Brexit effect could lead to loss of 80,000 jobs

Economists at the respected Fraser of Allander Institute looked at the effects of three different deals that the UK could strike with the EUGetty Images

Brexit could cost Scotland 80,000 jobs, slash salaries by thousands of pounds and shrink GDP by 5 per cent, according to a new report.

Economists at the respected Fraser of Allander Institute looked at the effects of three different deals that the UK could strike with the EU, ranging from a closer Norway-style scenario, with full access to the single market, to a World Trade Organisation (WTO) model, where there would be some tariffs in trading.

Under the third proposition — the “hard Brexit” which Theresa May has indicated she is pursuing — the effects on Scotland’s economy would be starkest. The…

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