Who’s afraid of a no-deal Brexit? What the next PM taking us out Europe without a deal means for your money

 

The threat of no deal is looming larger – just a few months after people had decided a softer Brexit was on the cards. 

 

This week we had the Office of Budget Responsibility’s verdict on what a ‘benign’ no-deal Brexit scenario might look like for the economy. It would cost us £30billion, unemployment would rise to 5%, the pound would fall 10% and house prices would go down by the same amount. 

 

And that’s not based on the IMF’s worst case scenario. The Chancellor said things could actually be more painful, Jacob Rees-Mogg suggested it was the wrong way round and we could be £80billion richer.

 

So could no deal really happen? What would it mean for your money? Are the OBR’s forecasts just more Project Fear? Or is ignoring experts measured forecasts Project Daft?

 

On this week’s podcast Simon Lambert and Georgie Frost dive into Britain’s unpredictable short-term future.

 

Also on the show, we look at what we can learn from a trip back to This is Money a decade ago, consider why Lloyds is getting back into the investment advice business with Schroders Personal Wealth, and answer a couple of reader questions on faking a break-up and staging a divorce to dodge pension tax and whether if you break off an engagement you get to keep the ring.

 

Who said love is dead?

Enjoy.