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Boris Johnson's push towards a no-deal Brexit is a "free lunch" for hedge funds and currency traders trading off the collapse of the pound, the former chairman of Goldman Sachs' Asset Management Sir Jim O'Neill has said. The UK government's official spending watchdog has previously warned that a no-deal Brexit would shrink the UK economy by 2% in 2020 and trigger a recession. However, Baron O'Neill, who advised David Cameron's government, said on Tuesday that his former colleagues in the industry saw the push to a no-deal Brexit as a "chance to make some money.". O'Neill told the BBC Radio 4 World at One programme that UK government figures "deliberately promoting the no-deal Brexit risk" were allowing traders to benefit. Full story

25 August