Brexit Secretary David Davis has stunned MPs by admitting he has done no economic assessment of crashing out of the EU with ‘no deal’.
Giving evidence to MPs, Mr Davis insisted it was not possible to calculate the impact of the Brexit talks failing – adding: “I may be able to do so in about a year’s time.”
The Brexit Secretary rubbished the Treasury’s pre-referendum forecasts of an economic crash if Britain left the EU with no fresh trade agreement.
But, asked by the chairman of the Brexit select committee, if a new assessment had been carried out, Mr Davis replied: “Under my time, no.”
The admission came despite Mr Davis ordering Cabinet colleagues to prepare for what is widely seen as the growing prospect of negotiations with EU leaders breaking down.
He also admitted he did not know about the implications of leaving the EU with ‘no deal’ on the transfer of personal data, which is crucial issue for the tech industry.
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And Mr Davis said it was “probably right” that holidaying Britons will lose EHIC cards, which provide free or subsidized healthcare across the EU, but added: “I have not looked at that one.”
More to follow…