Leaving the EU: Economic Analysis Debate
Full Debate: Read Full DebatePeter Bone
Main Page: Peter Bone (Independent - Wellingborough)Department Debates - View all Peter Bone's debates with the Department for Exiting the European Union
(6 years, 6 months ago)
Commons ChamberThat was quite a long question. There are two particular scenarios that are not modelled in this analysis. One is the policy choices that the Prime Minister rightly set out in her Florence speech, and the other is exiting in the unfortunate, and we think unlikely, circumstance of not reaching an agreement and how one might take the right policy choices in the event of trading on WTO rules. We will continue to take this analysis forward, and I look forward to the day when we are able to present appropriate analysis to the House before the meaningful vote.
Does the Minister recall, prior to the referendum, what became known as “Project Fear”? Everything was going to go wrong after the referendum if we voted to come out—something short of bubonic plague—but that did not happen. With those warnings, the British people still voted to come out, so of what relevance is another forecast now that predicts exactly the same as “Project Fear”?
My hon. Friend makes a good point, and I well remember “Project Fear” in all its manifestations. Most of us on the leave side thought at the time that those horror predictions would not come to pass after the vote and, happily, we have been proved correct. I look forward to continuing to prove economists wrong after they make horror story predictions.