Project Fear Redux: As Economy Surges, Anti-Brexit Economists Predict Disaster in Report Funded by Sadiq Khan

Sadiq Khan

As the British economy surges, London Mayor Sadiq Khan is releasing impact studies predicting a Brexit cataclysm.

The Labour politician spent tens of thousands of pounds in taxpayers’ money to commission the studies, which were prepared by Cambridge Econometrics.

The firm, which has offices in Brussels, is managed by Philip Summerton, who regularly retweets EU loyalists such as Chuka Umunna MP and former Remain campaign director Will Straw.

Its chairman is Labour leader Jeremy Corbyn’s economics guru Richard Murphy, who voted Remain and has claimed Leave supporters are “intellectually bankrupt” in an article titled, ‘The Poverty of Brexit’.

Murphy, like many other economists, corporate managers, and globalist politicians, also predicted prior to the 2016 referendum that a Leave vote would mean “recession is unavoidable”, in step with the George Osborne-led Treasury’s official line.

In fact, the economy has continued to grow, unemployment has fallen to record lows, and manufacturing output is surging, helped in no small part by the cheaper pound.

Nevertheless, the “independent” studies returned to the familiar themes of a jobs massacre and an enormous hit to growth in the event of a full, clean Brexit, with the economy losing some £54 billion by 2030, and some 500,000 jobs at risk.

“I’ve released these impact assessments because the British people and our businesses have a right to know the likely impact of the various options the government are considering on their lives and personal finances,” claimed Khan.

“This new analysis shows why the Government should now change its approach and negotiate a deal that enables us to remain in both the Single Market and the Customs Union,” he crowed, proposing a so-called ‘Soft Brexit’.

This would see Britain still unable to conduct an independent trade policy and negotiate its own trade deals, and still subject to the Free Movement regime which leaves immigration from the EU unlimited and effectively unvetted.

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