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😮Brexit 'Project Fear' Wrong by £100 Billion😮

3,135 views · Published 22 April 2018 · 7:54 · Indexed 12 November 2026

Channel: Jeff Taylor · 2018 · News & Politics

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The difference between the dire future the Remain campaign unleashed on the UK public using 'Project fear' and what has actually happened is staggering - Remoaners have a lot to answer for!

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Any Remoaners out there should now be hanging their heads in shame!

A major new report has put the final nail in the whole 'Project Fear' campaign that Remoaners are still using to this very day in one guise or another.

The upshot is that, according to George Osborne and his cronies, UK GDP would have dropped by 1.2 percent by mid 2018, says the report - leading to all those forecasts of Brexit calamity after Brexit calamity.

But, the report goes on, had there been no referendum, according to official figures UK GDP growth is forecast to have been 3.6 percent.

The actual outturn was 3.4 percent.

That means the difference between Project Fear and reality was 4.6 per cent of GDP, equivalent to about £100 billion!

In his report economist Timothy Congdon says that Project Fear was a 'gross miscarriage of government', now there's an understatement!

And in an upcoming article for Standpoint magazine where the report will be published, he will look at two theories behind this monumental blunder.

Either Osborne breached the conventions of the UK's unwritten constitution and abused the authority of the Treasury to give substance to lies, with Civil servants operating so closely to politicians, that they lost their objectivity and saw themselves as serving those politicians. 

Or, the only advice Osborne received came from official economists who had no idea what they were talking about. With so many economists “parroting each other” that unanimity had to be taken at face value.

If the second scenario was the case, the report says:

“Osborne may not be a Svengali who corrupted the civil servants around him, but the innocent dupe of utterly incompetent and useless advisers who were carried away with their own tosh.”

At the end of the day the report concludes that there was perhaps:

“a mixture of malice and ignorance, of wicked politics and trashy economics and that – as usual with other policy blunders in recent decades – it was more cock-up than conspiracy.”

Whatever the reason, it shows that the foundations of the Remain campaign are built on some very shifting sands! Please remind them at every opportunity!

Other topics include: The EU's EIF is shut to the UK, Theresa May could be setting us up to join a permanent EU customs union, Brexit minister Steve Baker on the Brexit deal meaningful vote and we must get involved in the Brexit vote anniversary.

Sources:

https://www.express.co.uk/news/uk/949459/brexit-news-eu-uk-project-fear-100-billion-economists-for-free-trade

https://www.telegraph.co.uk/politics/2018/04/21/theresa-may-backing-plan-britains-future-relationship-european/

https://www.independent.co.uk/news/uk/politics/brexit-second-referendum-eu-vote-theresa-may-mps-minister-steve-baker-a8313111.html

https://www.telegraph.co.uk/technology/2018/04/21/eu-investment-fund-closes-door-uk-tech-start-ups/

https://www.independent.co.uk/voices/editorials/second-referendum-brexit-minister-steve-baker-a8315826.html

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