John Baron MP welcomes positive economic news

October 27, 2016

MP says ‘Project Fear’ a busted flush

This morning data was released showing that the economy has grown 0.5% since the vote to leave the European Union. This is despite many predictions by the Treasury, banks and economists before the referendum that a vote to leave would certainly lead to a recession by the end of the year. Nissan also announced today that it will build its new model at its Sunderland plant, securing over 7,000 jobs and giving a large vote of confidence in the British economy.

John said,

“This is good news all round for the UK, for jobs and for businesses, and by some measures the British economy is now outperforming the US. Despite a difficult global economic environment, we can be pleased that Britain continues to make good progress, aided by a devaluation of sterling which keeps us competitive.”

“Yet, ‘Project Fear’ was telling us that merely a vote to leave the EU on 23rd June would be sufficient to lead us into an immediate recession. Just like the lurid warnings 15 years ago if we did not join the Euro, these predictions have been shown to be a busted flush.”

“Britain remains a superb places to do business, with the advantages of low and predictable taxation, a legal system the envy of the world, world-class education, the global language and a favourable time zone. Meanwhile, many Eurozone countries continue to be mired in uncompetitiveness and unemployment.”

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