Re:Brexit Deal Fails in Parliament
by tim333 on Tuesday January 15, 2019 @06:29PM
(#18916755)
It's true it's not as bad as some predicted and I imagine with a no deal brexit we'd muddle through but it still wouldn't be great.
For reference here's some prediction from back then:
>The Treasury's "cautious" economic forecasts of the two years following a vote to leave - which assumes a bilateral trade agreement with the EU would have been negotiated - predicts Gross Domestic Product would grow by 3.6% less than currently predicted.
>In such a scenario, it suggests sterling would fall by 12%, unemployment would rise by 520,000, average wages would fall by 2.8% and house prices would be hit by 10%.
Which was pessimistic. Sterling certainly fell, about 20%, but unemployment's doing fine so far.
For reference here's some prediction from back then:
>The Treasury's "cautious" economic forecasts of the two years following a vote to leave - which assumes a bilateral trade agreement with the EU would have been negotiated - predicts Gross Domestic Product would grow by 3.6% less than currently predicted.
>In such a scenario, it suggests sterling would fall by 12%, unemployment would rise by 520,000, average wages would fall by 2.8% and house prices would be hit by 10%.
Which was pessimistic. Sterling certainly fell, about 20%, but unemployment's doing fine so far.