Now that the British exit from the European Union is a legal reality, the economic situation in the UK has been surprisingly sedate.
This will be a surprise for those who believed the assurances of media pundits and economic experts that the UK’s economy would become every more crippled as Brexit edged closer.
Yet economic turmoil has been sparse. Certainly, markets and companies have moved to adapt to the new coming reality of the UK as largely outside the EU’s common market. But it is hardly clear that the country is poised on the edge of a Brexit-caused economic disaster. This is true even though Brexit has clearly been all but inevitable since December’s general election.
Project Fear was always nonsense. The damage it has done to the Treasury, the Bank of England, George Osborne, Mark Carney et al’s reputation is immense.
Too far into negative numbers on all counts….
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