Getting big decisions right is what guides the country to a better future.
Not arguments over rearranging Whitehall departmental deckchairs👇
Or bizarre No. 10
advisors claiming deep knowledge of things about which they haven’t a clue.
2015 was a Great British Catastrophe. /1.
A Conservative government (elected by minority vote) set about implementing a jaw-droppingly reckless promise.
To take the UK out of the EU if a referendum majority voted for it.
What happened to the £ after that announcement? A crash comparable to the great 2007/8 crisis. /2.
And here’s what happened to growth in UK economic output per person (GDP per capita) compared to the G7 & €-zone. (Greece is included separately as an indicator of the broad-based strength of €-zone growth since the referendum announcement - compared to the UK at least). /3.
But, the “sceptics” gasp, Canada did worse than the UK. That isn’t Brexit.
You’re right. Some places have done even worse than the UK. Rejoice! Sunlit uplands at last.
Also, they cry, that chart only shows up to 2019. What happens afterwards?
This happens afterwards 👇 /4.
Ah, those “sceptics” cry, that’s Covid. And the UK counts GDP differently, exaggerating the drop.
But it isn’t (just) Covid. It’s Brexit. Yes, the drop’s a bit exaggerated, which is why 2021 UK growth figures are exaggerated.
Here’s what the OECD reports: UK worst in G7👇/5.
And, by the way, here’s what that 2015 decision did to UK business investment.
What’s that you say? All these things are coincidences?
I know: come back in 50 years. We’ll be able to see if you’re right.
Meanwhile, stop embarrassing yourself. And wasting the country’s time./6.
Huh, the grumpy “sceptic” continues. But the EU ruined our economy over 40+ years, making it follow a bad “German” & “European” model.
Really? The UK underperformed pre-EEC. Disastrous UK policies in the 2010s created renewed failure.
Germany/ Europe outperformed the UK. /7.
But, replies the “sceptic”, that’s the past. The old models won’t work in future. “Europeans” are too stupid & lazy to work out what will. “We” are clever, agile & will be right this time.
Can’t even predict the past? But claim great foresight?
I’ll pass on that, thanks./8. End
Photo in last tweet: from YouTube,”BananaBoy 1379”.
Chart in tweet 5: OECD, November 2021
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