The grim scenarios presented to No 10 only arise because the Bank proposes to raise rates in a crisis. Why would it accomplish that?The case for staying inside the EU remains solid,but reinventions of project fright are wrecking the chances of ever persuading Leave voters, possibly in a second referendum, or that quitting the single market and customs union would harm the economy irrevocably.
That’s because project fright – as first achieve forward by the Treasury before the referendum vote and supported by the likes of the International Monetary Fund – is full of nearly as many barmy assumptions as are held true by Jacob Rees-Mogg and his European Research Group (ERG).
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Source: theguardian.com