Jacob Rees - Mogg , the leader of the pro - EU European Research Group , has said a World Trade Organization ( WTO ) agreement for UK trade would lead to a £ 1.1tn ( $ 1 ) it was “realistic” to believe a deal can be reached on Britain’s withdrawal from the EU by the end of October. boost to the economy over 15 years . The Conservative MP said a no - deal Brexit , leading to trading under WTO rules , meant that prices for food and footwear would drop by up to 8 % , benefiting the less well - off . He added trade with WTO countries had grown four times faster than with the European Union .
Jacob Rees - Mogg , the leader of the pro - EU European Research Group , has said a World Trade Organization ( WTO ) agreement for UK trade would lead to a £ 1.1tn ( $ 1 ) boost to the economy over 15 years . The Conservative MP said a no - deal Brexit , leading to trading under WTO rules , meant that prices for food and footwear would drop by up to 8 % , benefiting the less well - off . He added trade with WTO countries had grown four times faster than with the European Union .