Just one in ten of Remain campaign’s dire ‘Project Fear’ warnings about Brexit have come true, research reveals
Before the referendum George Osborne claimed a vote to quit Brussels would 'represent an immediate and profound shock to our economy' - but instead consumer confidence has boomed
JUST ONE in ten of the Remain campaign’s dire warnings about the dangers of Brexit have turned out to be true, research has revealed today.
By contrast, three quarters of Project Fear’s outlandish claims were wrong, according to the pro-Leave think tank Change Britain.
Before the referendum George Osborne published analysis claiming a vote to quit Brussels would “represent an immediate and profound shock to our economy”.
The Treasury documents claimed Brexit would plunge the country into an immediate recession, trigger mass unemployment of around half a million and see firms and households cut spending.
But since the historic vote on June 23 consumer confidence has boomed, employment figures have hit record levels and the economy was the fastest growing of the world’s top countries last year.
Change Britain studied the Remain campaign’s 19 most prominent warnings and found they were right about just two of them.
The potential for Britain to crash out of the EU without a new trading deal in place, and that the UK will not be at the negotiating table to influence Brussels’ decision making, are correct.
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But while a further three were found to be partially true, the remaining 14 had been proven false or are “likely” to be false.
Pro-Brexit MPs said the study proved that voters were fed “doom and gloom” by the Remain campaign.
Labour MP Gisela Stuart said: “This analysis shows why voters were right to see through their scaremongering.
“Growth continues to be upgraded, employment is at a record high, and a number of multinational businesses have made major investment announcements into the UK.
“The British people had the confidence to reject project fear and back project hope.
“Outside the EU, we can begin a process of national renewal and look forward to a strong and flexible economy which benefits everyone across the UK.”
But Open Britain, which campaigns against a hard Brexit, hit back with boss James McGrory saying: “Leave campaigners are continuing to tell the British people that Brexit is a completely cost-free option.
“They won the referendum and they now must be held to account for the Brexit promises they and the Government have repeatedly made, starting with ensuring we get the ‘exact same benefits’ we enjoy through EU membership.”