Maggie Pagano's Letter

Panic over Britain’s Brexit growth dip is overdone

BY Maggie Pagano   /  9 August 2019

They’ll blame Brexit, won’t they ? The question came from Bob, the engineer who came to fix my washing machine this morning, on hearing that UK growth fell in the second quarter for the first time in seven years.
 
It was more of a statement than a question from Bob, who you may have guessed is an ardent Brexiteer and sick to the teeth of moaning Remainers.

And he is right. Within seconds of the ONS figures coming out, the consensus view across the media, among Remainer politicians and many economists was that Brexit uncertainty caused the 0.2% fall in second quarter GDP and the first contraction since 2012.


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