London • With Boris Johnson confirmed as the next U.K. prime minister, the outlook for the British economy has become murkier — and potentially more perilous.
Johnson's comprehensive victory over Jeremy Hunt in the battle to lead the governing Conservative Party has made it more likely that Britain could leave the European Union on Halloween without a withdrawal agreement, a prospect that even the most ardent Brexit believers concede would be disruptive in the short-term.
Most economists think a so-called "no-deal" Brexit will be a lot worse than that.
A deep recession is widely predicted for that scenario.