After I demonstrated why @ChrisGiles_ of the @FT was wrong when he tweeted a misleading chart with the tag line I hear #Brexit is going swimmingly” he doubled down with another tweet tagged “#I still hear Brexit is going swimmingly”....
....& directed people to a recent FT article for a serious piece of analysis on the failings of Brexit.
on.ft.com/3OvEXSD
Below is my rebuttal to this article. Taking each @FT claim and explaining where & why it is either wrong, taken out of context or deliberately misleading.
thecritic.co.uk/lunching-on-th…
Where the @FT failed to put the fall in the pound into context (kudos @adrianmschmidt for the chart)
Where the @FT was wrong to say the fall in the pound post the 2016 referendum didn’t boost UK exports.
Where the @FT, whilst correct to say that UK inflation had been higher than the EU, failed to explain that this had been the case since the Great Financial Crash in 2008 and NOT a result of Brexit.
Where the @FT failed to put higher UK inflation into context – both that it had been running at the same rate as the G7 AND that it was still below the Central Bank target at a time when their aim was to create higher inflation.
Where the @FT was wrong to say Brexit has led to higher food inflation in UK (EU food inflation has been more than 5x higher & G7 4x higher) and failed to put UK food inflation into context (UK food prices are already amongst the lowest in Europe as are the current price rises).
Where the @FT selectively presented UK business investment data to imply a Brexit effect on the long term trend rate AND failed to put the figures into context versus EU peers.
Where the @FT was wrong to say UK exports to the EU have not grown since the end of the Brexit transition period.
And although right to say UK export & import growth since end of transition period has been lower than EU peers are wrong to say this has negatively impacted GDP & long term GDP forecasts (e.g. IMF predicts UK to be fastest growing G7 economy in period 2021-2023 AND 2024-2027).
The FT describes themselves as unbiased purveyors of the truth in a fake news world.
Please read the article and then answer the question I asked in my previous one.
Does that sound like the FT to you?
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