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The Chancellor gets his big fiscal consequences of leaving wrong- we will have £39bn more to spend!

Thursday, August 23, 2018 23:26

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The Chancellor’s re use of silly forecasts by the government this time admits that the model they use “is not well suited to analysis of short term developments”. That as near as we get for an apology for the disgracefully wrong forecasts of the aftermath of the referendum they used to try to frighten people into voting to remain.

He just says in 15 years time there will be a bit less growth and tries to convert this into tax loss. Meanwhile he studiously refuses to argue the case in government which he should be arguing, that there is no way we should give £39bn to the EU when leaving! Now that would provide a great boost to our economy in the short term, as we could start spending it in April next year.

Source: http://johnredwoodsdiary.com/2018/08/24/the-chancellor-gets-his-big-fiscal-consequences-of-leaving-wrong-we-will-have-39bn-more-to-spend/

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