EU IN CRISIS: Shock figures reveal how Dutch economy will pay HUGE price for Brexit

Finance experts KPMG said a ‘no-deal’ Brexit would cost Dutch firms trading with the UK up to £546million (€620m) in import and export licences.

Around 200,000 jobs in the Netherlands, one of the EU’s biggest economies, are believed to be involved in trade with the UK.

The staggering sum excludes the costs of trading tariffs and VAT, meaning the true cost to Dutch companies could be even higher.

Theresa May has repeatedly threatened to walk away from Brexit talks if Eurocrats fail to offer the UK government a favourable trade deal.

In her landmark Lancaster House speech last January, the Prime Minister said: “I am clear that no deal for Britain is better than a bad deal for Britain.”

If Mrs May does choose to quit negotiations, Britain would revert to trade rules set by the Geneva-based World Trade Organisation (WTO).

KMPG’s research was carried out on behalf of the Dutch government to warn business owners about the potential impact of Brexit.

Economic junior minister Mona Keijzer said: “Brexit will have major economic consequences, as confirmed by this study, so I advise business owners to start preparing in good time.

“The government is eager to help, but entrepreneurs will have to do the most important work themselves.”

Responding to the data, Dutch financial author Joris Luyendijk said a ‘no-deal’ Brexit would be “painful” for the EU given the UK’s importance as a trading nation.

But he said it would be even more risky to give Britain a “special deal”, because other EU countries would push for their own bespoke agreements.

He told the Guardian: “For EU member states, the negative economic fallout of a British crash departure is far more preferable than the utter catastrophe of the single market imploding. 

“Painful as it will be, no deal with Britain is indeed better for the EU than a bad deal.”