Brexit branded ‘complete disaster’ as £100bn a year loss to UK revealed

Brexit ‘a bunch of complete and total lies’, says ex-Tory donor Guy Hands on third anniversary of exit

Brexit is a “complete disaster” for the British economy based on a “bunch of total lies”, a former Tory party donor has said on the third anniversary of the UK’s withdrawal from the EU.

It comes as new analysis shows Brexit has caused a £100bn-a-year loss in output, leaving Britain’s economy 4 per cent smaller than it would have been inside the bloc.

Guy Hands, founder and chairman of private equity firm Terra Firma, said the only way Brexit could have worked was a “Liz Truss utopia” of complete deregulation and privatisation.