A Look at Some of the OECD’s Previous Forecasts…

The usual suspects are going mad about the OECD’s provocative claim that only having a second referendum and reversing Brexit will save the British economy from apocalypse. Seriously? This is an organisation that said the UK would receive “great benefits” from joining the ERM. They recommended we join the Euro. They said there would be an immediate “major negative shock” in the event of a Leave vote. Remember the OECD was forced to backtrack on its warnings of instant doom last year and revise its forecasts up “as a result of a stronger-than expected performance”. Buried at the bottom of today’s OECD report is a line conceding the outcome “could prove more favourable than assumed here”. You don’t say…

UPDATE: Also worth noting that even the OCED’s most doom-laden predictions now still predict the economy will grow in the event of no deal. What happened to the immediate recession Project Fear promised? 


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