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by LloydPickering
2953 days ago
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The Governor of the Bank of England disagrees with you that there has not been an economic impact yet. His estimates are that we have lost possibly as much as 2% of GDP as a result of the vote. http://www.bbc.co.uk/news/business-44207677 I'd also point out that last year in the first 3Qs the UK grew its economy, true, but at by far the slowest rate of any of the G7 countries indicating we are lagging behind. Not all of that can be definitively put at the feet of Brexit of course. https://uk.reuters.com/article/uk-britain-economy-performanc... I don't think the government is actively ignoring the economy, I just think they are hamstrung by the clear divisions in the nation (and indeed their party) as to whether we pursue a hard Brexit, or a Brexit in name only. |
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BoE and the profession of economics in general has a long history of failure to make correct economic predictions. Carney in particular has a catastrophically bad track record of predictions with respect to Brexit and has been publicly and repeatedly slated for it.
He can pull some figures out of the air to claim that the UK has "lost" economic performance compared to some model he won't reveal, if he likes. Those of us who understand the limitations of macroeconomics will roll our eyes and ignore his biased pseudo-intellectual nonsense.