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> Except "the experts" were predicting terrible things immediately, not later on - remember the punishment budget necessity? As a matter of fact, I do remember
by JamesMcMinn 10y ago
> Except "the experts" were predicting terrible things immediately, not later on - remember the punishment budget necessity?
As a matter of fact, I do remember the "punishment budget", the one which was mocked up for 2019-20 [1], around the time that the UK would actually leave the EU.
No one expected the UK economy to crash the day of the referendum. The projections are all projections for AFTER we have left the EU, not before. The reason exports get that title is because they know enough to at least make their projections from when the changes actually happen.
[1] https://www.theguardian.com/politics/2016/jun/15/revolt-of-65-tory-mps-over-osborne-tax-rises https://www.theguardian.com/politics/2016/jun/15/revolt-of-6...
- cmdkeen 10y agoThe language around the budget was "emergency" and "in the event of a vote to leave". You are correct the IFS analysis was about post leaving the EU, that was certainly not the spin the remain campaign placed on it. Saying "no one expected the UK economy to crash the day of" is a little odd - the Bank of England's Monetary Policy Committee certainly seemed to think they needed to act in the immediate aftermath of the vote with the interest rate cut which is now looking not such a great idea.
- vidarh 10y agoRemember that we had a prime minister that lied and said he'd invoke Article 50 immediately? All the predictions were based on a bunch of promises by certain people to make rash, idiotic changes immediatly after the vote. Promises that were thankfully broken. Most of the conditions that these kind of predictions were made under changed the moment Cameron resigned.