# Treasury to assess economic effects of closer UK-EU ties

- URL: https://talkfuse.com/story/the-return-of-project-fear-treasury-to-outline-pms-brexit-reset-plan-with-brussels-in-echo-of-remains-scare-tactics/
- Published: 2026-11-07T00:20:25+00:00
- Updated: 2026-11-07T00:32:19+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16273135/The-return-Project-Fear-Treasury-outline-PMs-Brexit-reset-plan-Brussels-echo-Remains-scare-tactics.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Europe, UK, World

## Key points

- The Treasury may assess economic options for closer UK-EU ties.
- Critics warn the exercise could echo 2016’s Project Fear.
- The claimed £12 billion annual GDP gain has not been substantiated publicly.

## Summary

The Treasury is reportedly expected to assess the potential economic effects of different options for closer UK relations with the EU, as Andy Burnham seeks to reopen debate about Brexit. Critics say the exercise could revive the referendum-era “Project Fear” approach, while supporters of closer ties argue that greater trade with Europe could help growth.

The article recalls that the Treasury’s 2016 forecasts warned of recession, falling house prices and rising unemployment; a later review found the short-term scenarios were not entirely accurate, though the pound did fall. Prime Minister Burnham has said a food and farming deal could eventually add 0.4 per cent to GDP, or £12 billion a year, but its supporting analysis has not yet been published. The Treasury says it has not been asked to prepare a new assessment and that the deal’s analysis will be released in due course.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.