Standard & Poor’s Warns ‘No-Deal’ Brexit Could Tip UK Into Long Recession

Standard & Poor’s Warns ‘No-Deal’ Brexit Could Tip UK Into Long Recession
Chancellor of the Exchequer Philip Hammond pictured in Halifax, England on May 17, 2018. Craig Brough/WPA Pool/Getty Images
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LONDON—A no-deal Brexit would be likely to tip Britain into a recession as long as the downturn that followed the global financial crisis, and investors should no longer ignore this danger, credit ratings agency Standard & Poor’s said on Oct. 30.

Talks on Britain’s departure from the European Union have stalled over arrangements for the border between the British province of Northern Ireland and the Irish republic if a trading relationship is not agreed in time.