Remainer predictions unravel as Britain’s GDP beats doom and gloom expectations
Britain beat worldwide expectations right this moment as its financial system grew by a shock 0.2 p.c between April and June. Political commentator Ross Clark stated the most recent figures present that the Remainer myths round Brexit had been “crumbling”. In the Telegraph, Mr Clark wrote that “real world data is undermining the doomster ‘Bregret’ narrative”.
The newest development figures comply with a development of 0.1 p.c within the first quarter of the yr.
The chief economist on the CBI, a number one enterprise group, stated the expansion within the second quarter highlights the “resilience of the UK economy”.
Ben Jones urged British companies to give attention to enhancing productiveness, describing this because the “surest way to drive up growth and living standards in the UK”.
The greatest contribution to the financial development got here from the automotive business.
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Mr Clark mocked earlier predictions of Brexit doom and gloom, declaring that the IMF had claimed the UK financial system was headed for a grim 2023 relative to different European international locations.
In January, the IMF sparked concern within the UK after predicting that Britain could be the one main financial system to shrink in 2023, faring even worse than Russia.
The political commentator stated that even the Bank of England had Britain in recession all through 2023.
He stated that Britain had “consistently outperformed” the damaging predictions.
Mr Clark additionally pointed to a souring financial temper in Europe, with Germany struggling growths of minus 0.4 p.c, minus 0.1 p.c and nil p.c up to now three quarters
He urged that Germany, the Netherlands or Italy would find yourself as Europe’s worst-performing financial system in 2023 – not Britain.
Mr Clark wrote: “One of the needs of Brexit was to attempt to escape the low orbit of Europe’s over-regulated, over-protected financial system.
“We can’t say that we now have achieved that but – although the potential remains to be there. But what we’d like is a authorities ready to use our new-found freedoms.”
The Government celebrated the latest figures.
Chancellor Jeremy Hunt said: “We’re laying the robust foundations wanted to develop the financial system.”
Prime Minister Rishi Sunak tweeted: “At the start of the yr I made rising the financial system one in all my prime priorities, and we’re making progress.
“There’s still more work to do, but today’s figures show the plan is working.”
Meanwhile, Labour’s Rachel Reeves stated the figures confirmed that development is “still on the floor” because of the Conservatives’ “economic mismanagement”