Julian Jessop quoted in The Times
“Julian Jessop, a respected Brexit-supporting economist and fellow of the Institute of Economic Affairs, puts the lost growth caused by Brexit uncertainty at “perhaps 1 per cent to 1.5 per cent”.”
“The Treasury, the International Monetary Fund and others predicted sterling would fall, inflation would rise, wages would be squeezed and business investment would slow. On that, they nailed it. Sterling fell by 20 per cent. Business investment contracted every quarter last year, for the first time since the 2008 recession. Real wage growth, after inflation, was 1.8 per cent just before the vote, shrank for nine months after it and is only back to 1.4 per cent today. There has been harm, just not a recession.”
Read the full piece here.