Wednesday, April 19, 2017

Osborne's Reputation In Tatters. (So Much For Project Fear!)

Just one in 10 of the 'Project Fear' warnings about Brexit last year have turned out to be true, a new study reveals today.
A year ago today, the then Chancellor George Osborne published a controversial 'Treasury analysis' of the risks of Brexit, claiming that quitting the EU would leave every family £4,300 worse off.
Mr Osborne predicted an 'immediate' recession, with the Treasury suggesting half a million people would be thrown out of work.
But although the former Chancellor quickly lost his Cabinet job in the wake of the referendum vote, unemployment has fallen and the British economy has powered ahead of most of its EU rivals.
A new analysis by the Change Britain think tank today finds that just one in 10 of the gloomy warnings issued by Mr Osborne, David Cameron and other Government figures at the heart of the Remain campaign have turned out to be correct.
In a report today, the organisation analyses 19 key claims made by the Government in the run-up to the referendum in June last year.
Of these, just two have been borne out by subsequent events. By contrast, seven have already proved to be false, with a further seven 'likely to be false'. The remaining three are judged to be only 'partially true'.
Labour MP Gisela Stuart, who set up the think tank with former Tory justice secretary Michael Gove, said the study showed voters were right to reject the lurid claims made by the last government.
'The Remain campaign fed the public with stories of doom and gloom, but this analysis shows why voters were right to see through their scaremongering,' she said.
'Growth continues to be upgraded, employment is at a record high and a number of multinational businesses have made major investment announcements into the UK.
'The British people had the confidence to reject Project Fear and back Project Hope. Outside the EU, we can begin a process of national renewal and look forward to a strong and flexible economy which benefits everyone across the UK.'
Jacob Rees-Mogg, a Tory member of the Commons Treasury committee, said the scaremongering had damaged the civil service and 'shattered' the reputation of Mr Osborne. Mail.

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