Economic forecasts for UK economic growth have been raised from 1.7% to 1.8% by the OECD despite continuous criticism of the Brexit referendum outcome. This announcement is in stark contrast to its fear mongering rhetoric during the Brexit campaign, predicting a supposed economic collapse to commence immediately should Britain chose to exit the quasi-imperialistic union. In regards to the Brexit decision, the Office of National Statistics stated “So far there has been no sign of a major collapse in confidence and, within the data that is available, some indicators of strength”.
The number of cars produced in Britain has reached 109 000, a record for the month of August in 14 years, says the Society of Motor Manufacturers and Traders. UK built automotive models are “in demand all across the world”, says the CEO of the society. This may have been supplemented by the depreciation of the pound Sterling, which strengthens the demand for British exports and attracts greater investment to the nation.
The OECD’s announcement also included a prediction that the UK’s 2017 economic growth will be halved, but only due to a weak global economic outlook. However, if the OECD’s initial Brexit prediction is a reflection of the organisation’s accuracy, the British need not be concerned.
The left’s fear mongering tactics have not ceased. Green’s Part MP Caroline Lucas revealed her desires for a second Brexit referendum, despite the current economic growth experienced by the EU. Britain is already in an excellent position to trade with the globe, instead of sticking with a protectionist union that only serves its bureaucracy.
Also, the Bank of England issued a statement saying “business sentiment improved slightly in August”, an exact opposite situation compared to the OECD’s initial prediction. It’s clear that Britain has a strong economic foundation that has been enriched through her decision to leave the EU. The trend only seems to show greater prosperity, as promised by the Brexit side of the campaign.