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Remember when we were told by George Osborne there would be an immediate recession the day after a Leave vote? Edit: 'Brexit could plunge Britain into an inst

Remember when we were told by George Osborne there would be an immediate recession the day after a Leave vote? Edit: 'Brexit could plunge Britain into an instant recession, the Prime Minister and the Chancellor have said in the starkest economic warning yet of the consequences of Britain leaving the European Union.' 'he Treasury said unemployment would be 520,000 higher, wages 2.8 per cent lower and house prices 10 per cent down. In a severe shock joblessness would be 820,000 higher, wages down by 4 per cent and house prices 18 per cent lower.' https://www.independent.co.uk/news/business/news/brexit-to-create-instant-diy-recession-warns-george-osborne-a7042886.html https://www.independent.co.uk/news/business/news/brexit-to-c... Edit: downvoting facts now? ok HN.

nicoburns 6y ago
As I said in my original comment: wouldn't you expect the majority of the economic effects to hit after the economic situation changes? i.e. when British companies are suddenly subject to tariffs when exporting to Europe at the end of the year. The fact that George Osbourne said that they would happen immediately is neither here nor there really.
dnh44 6y ago
The pound dropped a lot after the vote and it still hasn't recovered. That helps UK exporters a lot but it was still a pretty dramatic change. But I don't see how one asshole being wrong is evidence that Brexit is going to be a good thing.
mnm1 6y ago
Are you saying the UK is not currently in a recession where it has been since at least February/March?