FT Punk Economics looks at the 2 year challenge facing the UK and just some of the complications of crashing out without a deal. The debate has been dominated by free movement and immigration. What is not given airtime is free movement of capital. Capital crosses borders with little difficulty and businesses dependent on EU trade are facing decisions on how to protect their business if the UK crashes out. Moving part or all of their operation to the EU ensures continued access to the world’s largest market and worldwide access to the countries the EU has a trade deal with.
If the UK crashes out it starts with no trade deal with anyone. Legally the UK cannot start to negotiate trade deals until after March 2019 because until then it remains a member, even if it has walked out of Brexit talks.