The UK economy is already more than 2% smaller than it would be if we had voted to Remain in the EU & @JuliaHB1 keeps tweeting everyone knew what they voted for. #MindBlownpic.twitter.com/j322seJ6I3
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Isn't that tiny 2% about the same drop as the 2008 financial crisis Julia? Let's look at USvUKvEU and what happens when project stupid kicks in.pic.twitter.com/0j3mLrXP3F
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Here's a copy of that graph with the source shown clearly. Tweet it often, I do.pic.twitter.com/ZDnqiWgKC7
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Thanks, hadn't realised mine was a bad copy. My economist pal
@soechristian is always good for a graph! He has loads and loads of data to play with! -
Thank you I already follow Christian but I will do much more closely from now on.
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I like this one from 2017 where they use a composite benchmark to model the UK economy more accurately than a simple comparison vs EU and US.https://voxeu.org/article/300-million-week-output-cost-brexit-vote …
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Great analysis. Please let us know if you find an updated version with 2018Q2 figures. Thank you.
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Brit Girl, if nothing else "Brexit made me love graphs even more"! I've been waiting to use this one, it shows the Netherlands joining before us, a boast in their economy then a constant lag in growth of the UK after we joined.pic.twitter.com/v8lrTWG7bB
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So we lag the Dutch by $10k since the
#bankCrash. Just look at the completely unnecessary waste due to#coalition#austerity! - 2 more replies
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Actually it is. As of Nov 2017, when this study was published, the UK's GDP was approx £20bn less than the hypothetical 'doppelganger' economy without Brexit. That's around 1.3% of a GDP of approx £2.7tn. /conthttps://www.independent.co.uk/news/business/news/brexit-uk-economy-losses-eu-referendum-result-billions-leave-european-union-a8081841.html …
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"Extrapolating the CEPR economists' exercise to the end of 2018 implies a cost to the UK economy of £60bn, or 2.2 per cent of GDP."
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Or just a shade under seven (7) years worth of net EU contributions (excluding the £39bn (plus or minus £10bn) settlement payment). And we haven’t even left yet. Ideology trumping pragmatism and common sense. Not very British really, is it?
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Also not taking into account the £150bn or so that the BoE allocated to try and support Sterling and prop up the UK economy in the immediate aftermath of the EURef vote.
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Yes, it’s worth emphasising that the £60bn is per year. According to latest OECD figures, the UK’s tax-to-GDP ratio is 33.2% https://www.oecd.org/tax/revenue-statistics-united-kingdom.pdf … So the Treasury will be 0.332 x £60bn, or very nearly £20bn per year down on where they would have been. /cont
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So after taking off the approx £10bn per year net EU contributions, Treasury is £10bn per year worse off than if we’d remained.
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Hi Julia. An economist here. According to the best estimates we can make, the UK economy was about 2% smaller than it would’ve been at the end of the first quarter of this year.
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JULIA???
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“Numbers” now added alongside Facts, Moving Machinery and Scissors as objects which
@JuliaHB1 is required to be kept away from for the safety of her and others -
I’m going to follow
@juliaHB so I can remind her of this appalling public display of ignorance every time she expresses an opinion. I suppose I’ll be blocked, but the faint hope is that she’ll own up to being a turnip, and shut up until she’s finishes her A levels. -
GCSE maths students wouldn’t get a decent pass if they displayed the breathtaking lack of understanding shown by
@JuliaHB1 -
Julia, at what point do you admit that you got this wrong.
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