The costs just keep on coming...

[ellal]

IFS: No-deal Brexit would push UK debt to 50-year high

"Even a "relatively benign" no-deal Brexit would push UK debt to its highest since the 1960s, the Institute for Fiscal Studies has said.

The think tank said borrowing would likely climb to £100bn and total debt would soar to 90% of national income.

This would mean the UK is borrowing almost as much as the country earns in a year."



"A rise in public spending in 2020 would likely be followed by "another bust" as the government would have to deal with "the consequences of a smaller economy and higher debt for funding public services".

It would be "crucial" that government spending programmes were temporary.

"An economy that turns out smaller than expected can, in the long run, support less public spending than expected, not more,"


Austerity...

You ain't seen nothing yet!

 

[Mottie]

Hmm. Think tank. Isn't that group of people whose job it is to 'think' what a likely scenario would be bearing in mind the policy wishes of those that employ them.

The article linked to also says this: "In the case of a no-deal Brexit, the IFS said a temporary government spending spree could help to smooth the path for growth".

 

[noseall]

The article linked to also says this: "In the case of a no-deal Brexit, the IFS said a temporary government spending spree could help to smooth the path for growth".

Read on...
It goes on to say.....the boom would likely be followed by bust as the government struggles to cope with the consequences of a smaller economy and higher debt on its funding of public services, the IFS said.

 

[noseall]

And another paragraph of good news from the same article…

"It also contained analysis from economists at the global investment bank Citi finding that the UK economy was already as much as £66bn smaller as a result of the leave vote and predicting two years of zero growth in the event of no-deal."

Phew! £66 billion. Good ole brexers.

 

[Notch7]

Hmm. Think tank. Isn't that group of people whose job it is to 'think' what a likely scenario would be bearing in mind the policy wishes of those that employ them.

The article linked to also says this: "In the case of a no-deal Brexit, the IFS said a temporary government spending spree could help to smooth the path for growth".

There arent any studies that give no deal as a benefit.

Oh except nutters like patrick minford......who also say that car manufacturing and farming industries would be wrecked......which he thinks is a price worth paying, because ge is a rabid brexiteer

 

[ellal]

Hmm. Think tank. Isn't that group of people whose job it is to 'think' what a likely scenario would be bearing in mind the policy wishes of those that employ them.

Funnily enough the IFS is often seen as a flag bearer for the right wing of politics...

But in the interests of 'balance', maybe you could point out a report that illustrates the economic benefits of Brexit?

"In the case of a no-deal Brexit, the IFS said a temporary government spending spree could help to smooth the path for growth".

Note the word 'temporary'...

The budget is in deficit still, so the only way to boost the economy to prevent collapse is to borrow more...

Which would need to be paid back at higher interest rates...

Of course there is a way to give a stable outlook and sustained steady growth...

Revoke article 50!

 

[SirGalahad]

Hmm. Think tank. Isn't that group of people whose job it is to 'think' what a likely scenario would be bearing in mind the policy wishes of those that employ them.

The article linked to also says this: "In the case of a no-deal Brexit, the IFS said a temporary government spending spree could help to smooth the path for growth".

Here are some facts - the UK credit rating.

https://tradingeconomics.com/united-kingdom/rating

Why do you hate the EU so much?

 

[durhamplumber]

You ain't seen nothing yet!

Too true..Hard brexit...asap....GTFO.

 

[durhamplumber]

Why do you hate the EU so much?

Hate?????.. Never

 

[durhamplumber]

Revoke article 50!

Cloud cuckoo lal

 

[durhamplumber]

farming industries would be wrecke

Yes. The poor sheep

 

[Notch7]

Too true..Hard brexit...asap....GTFO.

yup I agree

that will make the poor people that voted for Brexit poorer.

 

[durhamplumber]

yup I agree

that will make the poor people that voted for Brexit poorer.

Hard brexit.asap

 

[ellal]

that will make the poor people that voted for Brexit poorer.

Don't forget though, they are looking forward to it...

And of course they'll be blaming everyone else for it...

Smogg, farage, bojo and their cronies will meanwhile be p issing themselves laughing at the thought of how easy it was to con them!

 

[JP_]

Bloody think tanks, using decades of collective learning and experience to predict the possible outcomes of a new government policy, and then reporting it even though it doesn't look good.
We don't need experts lying to us, we need a good honest Brexit, the harder the better!