Few journalists have spotted that the Remain economists working for the IMF and PwC actually predicted good growth for the UK economy once Brexit happens:
"The UK economy then experiences faster growth in the medium term at 2.6% on average in 2021-25, before settling at around 2.4% per annum in 2026-2030." PWC: Implications of an EU Exit
"Growth rates in later years are higher than the baseline.." IMF Country Report for UK
The IMF and PwC and other Remain predictions relied upon a terrible recession happening after the EU Referendum because of widespread panic by investors and industry. The low growth figures in 2019 on the graph above are based on these predictions for a recession. Despite the best efforts of the UK media and the investment banks this panic has not happened. UK growth is the strongest of the major EU economies after the referendum:
No-one is panicking but the Remain journalists and politicians are squealing non-stop. The only source of "comfort" for Remain supporters is that the pound has been falling. But the pound has been falling sharply since 2014.
The fall, ironically, is actually due to EU membership and has been going on for years because of the UK-EU Balance of Payments deficit:
A large fall in the real value of the pound occurred after entry to the Common Market in the early 1970s.
See the following articles for an in depth discussion of IMF and PwC predictions:
The IMF Predictions for the UK Economy after the Referendum
The HM Treasury Model of Brexit - How well did it perform?
The simple fact is that so long as the UK can avoid a post-referendum recession the future looks rosy. Any long drawn out battles by Remainers to stay IN the EU are most likely to cause the damage to the economy that we have, so far, avoided.
3/11/2016
"The UK economy then experiences faster growth in the medium term at 2.6% on average in 2021-25, before settling at around 2.4% per annum in 2026-2030." PWC: Implications of an EU Exit
"Growth rates in later years are higher than the baseline.." IMF Country Report for UK
No-one is panicking but the Remain journalists and politicians are squealing non-stop. The only source of "comfort" for Remain supporters is that the pound has been falling. But the pound has been falling sharply since 2014.
The fall, ironically, is actually due to EU membership and has been going on for years because of the UK-EU Balance of Payments deficit:
See the following articles for an in depth discussion of IMF and PwC predictions:
The IMF Predictions for the UK Economy after the Referendum
The HM Treasury Model of Brexit - How well did it perform?
The simple fact is that so long as the UK can avoid a post-referendum recession the future looks rosy. Any long drawn out battles by Remainers to stay IN the EU are most likely to cause the damage to the economy that we have, so far, avoided.
3/11/2016
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