Originally posted by Paddy
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DOOM: London
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I am what I drink, and I'm a bitter man -
"Brexit a major cause of UK’s return to austerity, says senior economist
Former Bank of England policymaker Michael Saunders says leaving EU has ‘permanently damaged’ economy
Brexit is the ultimate reason why the UK now faces a fresh round of austerity, a former interest rate-setter at the Bank of England has said.
“The UK economy as a whole has been permanently damaged by Brexit,” Michael Saunders, who was an external member of the central bank’s monetary policy committee, said in an interview with Bloomberg TV.
“It’s reduced the economy’s potential output significantly, eroded business investment,” he said, adding: “If we hadn’t had Brexit, we probably wouldn’t be talking about an austerity budget this week.”
“The need for tax rises, spending cuts wouldn’t be there, if Brexit hadn’t reduced the economy’s potential output so much.”
Saunders joined the rate-setting committee shortly after the result of the Brexit referendum in 2016 and left the role in August this year.
He said the “main legacy of that period” was weak economic output."
https://www.theguardian.com/politics...nior-economist
Rejoin EU and reduce taxes!
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Some of us think that the UK economy has been permanently damaged by bailouts and QE as well ...Comment
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Originally posted by Protagoras View PostSome of us think that the UK economy has been permanently damaged by bailouts and QE as well ...
Can Brexit be reversed? For sure.Comment
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Originally posted by AtW View Post
Can they be reversed? Maybe.
Can Brexit be reversed? For sure.
Blog? What blog...?Comment
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