Yesterday Boris Johnson announced an additional one billion pounds to prepare for a possible no-deal Brexit.

Today he stated that the chances against a no-deal Brexit were “a million to one”. When asked for clarification, he repeated that this was his estimate “exactly”.

Combining these figures, we see that Johnson’s estimate of the costs associated with a no-deal Brexit is on the order of one quadrillion (1,000,000,000,000,000) pounds.

[29 July 2019]