Claims that UK will be £135billion a year better off after Brexit are “laughable”, according to a former top Government economist.
Jonathan Portes, former Chief Economist at the Cabinet Office, tore apart suggestions from anti-EU academics the UK is set for a huge boost after Brexit.
The claims were made by the Economists for Free Trade group, which also predicts an eight per cent fall in prices in the event of a Hard Brexit if the Government were to quit the EU without a deal.
Portes took to Twitter to pour scorn on the report, suggesting the group – which includes leading Brexit economist Patrick Minford – made basic and fundamental errors in their research.
The idea that the UK should unilaterally drop tariffs as these people seem to think is insane. It would mean the complete destruction of British manufacturing. No countries pursue a policy of absolute free trade with anyone anywhere; it's the whole reason countries make trade deals.