What would Brexit mean for the UK economy? | World Economic Forum

English: Official logo of the World Economic F...

English: Official logo of the World Economic Forum. (Photo credit: Wikipedia)

In this excellent analysis the WEF explores the question, ‘What will be the economic repercussions if Britain votes to leave the EU?

Source: What would Brexit mean for the UK economy? | World Economic Forum

Reading this article, I am left with two important conclusions.

Firstly, nobody knows whether the economic outcome from Brexit will be ‘bad’ or ‘very bad’ (to paraphrase the IMF). It will depend upon future trade negotiations. Most experts feel that these negotiations will be prolonged. I’m a realist, so I lean towards ‘very bad’ as the economic outcome of Brexit.

But the second point is that the Brexit supporters are completely oblivious to economic arguments. They are ready to bury their heads in the sand like ostriches claiming that the numbers don’t make sense. The WEF conclude that the Brexiteers are most interested in regaining control of the UK. The word sovereignty is frequently deployed. Sadly, we live in a highly joined up world.

So I am left with two simple open question:

  1. If Brexiteers are not just Little Englanders,  strong on xenophia, what are their real plans?
  2. Why won’t the Brexit camp reveal costed policies and risk assessments?

Thoughts?

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