Bank of England Rubbish Osborne’s Brexit Fibs

osborne balls

George Osborne’s claims that voting to Leave would cause interest rates to rise and a year-long recession have been demolished by the Bank of England. Osborne’s Treasury forecast of the two years following a Leave vote predicted GDP at between -3% and -6%. Today’s Bank of England numbers forecast GDP unchanged at 2% for 2016, dropping to 0.8% in 2017 and rising again to 1.8% in 2018. They have cut interest rates and said there will be no recession.

Osborne also claimed unemployment would rise 2.4 points to 7.3%. The Bank of England forecasts an unemployment rate of 5.6%. This is what the Treasury was threatening:

osbo

The Bank of England now say this was all nonsense. Final proof the Remain campaign were fibbing all the way to the ballot box…


Euro News



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Rachel Johnson on her prospects with ChUK…

“I’m the the rat that jumps on the sinking ship. And now I’m jumping on another sinking ship with Change UK. We hope it’s not sinking but it’s not riding the ocean waves in the way Chuka, Heidi and Anna thought it would.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Farage Milkshaker Unmasked Farage Milkshaker Unmasked
ChUK Blame Game ChUK Blame Game
Angry Esler Angry Esler
Miliband’s 19,000 Air Miles Miliband’s 19,000 Air Miles