Tag Archives: Bank of England

The Treasury forecasts for the effect of the Referendum on the UK economy are now known to have been wrong. There was no huge economic meltdown due to “uncertainty” in 2017, unemployment has stayed low and inflation is steady.  In fact the UK economy has performed better than that of …

The graphs below summarise the current state of the UK economy: The central, grey line is the Purchase Power Parity (PPP) of the pound – what the pound is really worth when buying things in the UK, this is the real value of the pound. The coloured lines show when …

The Bank of England published this graph showing the effect of leaving the EU with no deal in its report: EU withdrawal scenarios and monetary and financial stability: The graph is designed to look as scary as possible.  However, when we read the notes on page 53 we find this little …

Coverage in the media of the fact that the Belfast Agreement does NOT specify open borders with frictionless trade in Ireland has been entirely suppressed (read the Belfast Agreement here if you don’t know this) and the news that the Bank of England has calculated that a WTO Brexit with a 21 …

I have in recent days found myself dealing with perpetual criticism of the Vote Leave campaign’s use of the ‘£350m’ figure during last year’s EU referendum campaign. Scores of Twitter followers and individuals I know in person have, it seems, converged on me, telling me that our figure was either …

The Treasury Select Committee (TSC) has delivered its report on Brexit, or to give the full title, “The economic and financial costs and benefits of the UK’s EU membership”. The result is far reaching, leaving a few questions unanswered. At times, observers might feel that the committee has been uneven …