MP says British economy would thrive post-Brexit
Earlier this week, the Chancellor of the Exchequer, Rt Hon George Osborne MP, suggested households could be worse off in the event of Brexit. However, this is based upon very long-term forecasts of the size of the economy in 2030, and upon the difference between 29% and 37% growth in GDP – in either situation, everyone would be better off. In addition, attempting to translate this potential reduction in future GDP into household income is a fallacy, as this is comparing apples and pears.
John said,
“The Chancellor’s figures are misleading, and are based on very long-term economic forecasts of doubtful accuracy. We should also remember that the Treasury at one time believed the Euro would be beneficial to the British economy, and take this analysis with a large pinch of salt.”
“There is every reason to believe that the British economy would thrive outside the EU, particularly after the removal of deadweight EU business regulation and the signing of trade deals with the faster-growing economies outside the Eurozone.”
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