The Bank of England has issued a surprising no deal Brexit boost today.
Seeing as MPs have yet to agree on a Brexit deal and the UK must leave the EU by law on the 29th of March, a no deal is growing more likely as each day passes.
The mainstream media and remain ‘experts’ believe that no deal will be awful for the UK and constantly pump out fear in an effort to lure the public away from supporting this scenario.
3 months ago the Bank of England claimed that the economy/GDP could take a hit of between 5-8%.
However, just 3 months on they have revised this figure to be more around 2-3%. A huge difference!
We must admit that no deal will be bumpy, to begin with, but the long term benefits are vast!
Bank of England’s Governor, Mark Carney said: “If you took the scenarios that we had for a No Deal and you referenced the disruptive and the disorderly, and it depends what your counterfactual is – so what are we comparing it to – if we compare those as we did in November to our forecast of the economy at the time which presumed something broadly consistent with the Prime Minister’s deal…the potential hit to GDP was just under 5% in the disruptive and just under 8% in the disorderly.
“The items I indicated earlier, given our modelling of the situation, would pull back somewhere between 2% to 3.5% of those losses depending on the scenario.
“Since we released the scenarios in November there have been some constructive developments in terms of preparedness.
“That reduces the level of economic shock.”
The Financial Policy Committee (FPC) stated: “Some disruption to cross-border services is possible and, in the absence of other actions by EU authorities, some potential risks to financial stability remain.”
What we are seeing is that accusations and claims about a no deal are being pulled, revised and now not as bad an initially thought.