The IFS's calculations are spurious at best
Another day, another economist trying to rewrite history to convince us that yes, all those forecasts of immediate doom if Britain voted to leave the EU were on the money after all. On the Today programme yesterday, Paul Johnson, director of the Institute for Fiscal Studies (IFS), made the ear-catching claim that the UK economy is now £60 billion smaller than it would have been had we voted to remain in the EU – a claim which went unchallenged.
The IFS tends to avoid making specific forecasts but this figure could be said to coincide with what Johnson wrote a fortnight before the 2016 referendum: “the immediate impact could be seismic… In the short...
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