Remain Campaign Out By £100 BILLION, Economist Claims
A new report into the financial predictions of the remain campaign during the EU referendum claims that the figures were off by around £100bn.
The report’s author, Timothy Congdon, a world-leading economist described then-chancellor George Osborne’s financial forecasts as “grotesque” and argued that they were the “defining” areas of his career.
He said: “Instead of house prices going down, they have gone up. Instead of the public finances lurching more heavily into deficit, they have been better than at any time since the Great Recession.
“Above all, Mr Osborne’s scary rhetoric about a return of the Great Recession now looks preposterous. Despite all his supposed capability, he could not have been more wrong.”
He continued: “The grotesque misjudgment was not about something distant from his department’s area of responsibility.
“This was a subject where he had direct ministerial accountability and which was perhaps the defining public policy issue of his career.”