Eurocrats have claimed Britain’s economy could nosedive if the country leaves the EU without a deal on October 31. The European Commission papers was released moments before Mr Johnson delivered his pitch in London to replace Theresa May as prime minister. The Brussels-based executive insisted that Britain would be hit harder than the Continent if there is a no-deal Brexit.

EU officials warned of “significant disruption” and a “serious negative economic impact” if we leave without an agreement.

The shock paper insisted no deal “very much remains a possible, although undesirable, outcome” because of the “political situation” in the UK.

The announcement was made as Mr Johnson launched his leadership bid with a promise to quit the EU by October 31 – with or without a deal.

The EU’s warning could be seen as a hardline reaction to the former foreign sectary’s ambitions to renegotiate Mrs May’s hated divorce deal.

The Commission said: “In a no-deal scenario, the UK will become a third country without any transitional arrangements.

“This will obviously cause significant disruption for citizens and businesses and would have a serious negative economic impact, which would be proportionally much greater in the UK than in the EU.”

Brussels praised EU27 capitals for showing “a high degree of preparation by member states for all scenarios” after conducting numerous spot-checks over the last year.

Eurocrats also vowed to strike up a “specific arrangement with the United Kingdom” to secure the bloc’s trawlermen guaranteed access to British waters.

The Commission has warned that European vessels face an immediate ban from British on November 1 in the event of a no-deal Brexit.

Officials have drawn up a so-called “contingency regulation” to allow to handle authorisation requests for EU boats to access UK waters.

Their paper warns: “The Commission reiterates the importance of a coordinated approach of the EU27 member states to prepare for the possibility that EU vessels no longer have access to UK waters.”

In London, Mr Johnson told his audience: “After three years and two missed deadlines, we must leave on October 31.

“I am not aiming for a no-deal outcome. I don’t think we will end up with any such thing. But it is only responsible to prepare for one.”

He added: “We simply will not get a result if we give the slightest hint that we want to go on kicking the can down the road with yet more delay.

“Delay means defeat. Delay means Corbyn. Kick the can and we kick the bucket.

“With every week and month that goes by in which we fail to deliver on our promise I am afraid we will further alienate not just our natural supporters but anyone who believes that politicians should deliver on their promises.”

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