In February 2016, the Confederation of British Industry (CBI) commissioned PricewaterhouseCoopers LLP (PwC) to provide a detailed quantitative assessment of the possible implications for the United Kingdom (UK) economy as a result of leaving the European Union (EU). The report compiled intended to inform the debate from an economic perspective and to help businesses to prepare for alternative possible outcomes of the UK Referendum on EU membership on 23rd June 2016.
PwC have used a computable general equilibrium (CGE) model to estimate the impacts on the UK economy in two ‘EU exit’ scenarios relative to an alternative or ‘counterfactual’ scenario in which UK citizens voted to remain part of the EU. The authors consider only the possible economic impacts of EU exit, not the wider political, social and cultural impacts that are beyond the scope of this study.
The full report can be downloaded here.