BRITONS will enjoy a long-awaited Brexit bounce soon after the country’s departure from the #EuropeanUnion, a political expert claimed while analysing the Bank of England forecast for business investment.
Against all odds, Boris Johnson managed to negotiate a revised deal with Brussels in October.
Despite gaining a huge concession from the EU, MPs rejected the Prime Minister’s timeline to push it through the Commons, leaving his pledge to exit by October 31 in tatters and the Brexit deal on hold.
Hoping to end the three-year deadlock, Britons will now go to the polls on December 12, but since the Labour Party’s Brexit policy now sees a second referendum, with the option of remaining, Britain might end up staying in Brussels.
Moreover, away from the two major parties, Lib Dem Leader Jo Swinson is also campaigning for Remain and claimed on Tuesday that her party would pump an extra £50billion into the UK economy if the UK stays in the bloc.
As uncertainty continues and frustration grows, Spectator’s magazine editor and political analyst Fraser Nelson claimed that Britain will enjoy a long-awaited Brexit bounce if the country finally leaves the bloc under Mr Johnson’s deal.
Analysing the Bank of England forecast for business investment during an event attended by Express.co.uk, Mr Nelson said: “Andrew Neil spoke about a Brexit bounce.
“This is the Bank of England forecast for business investment.
“They are thinking down this year, down next year.
“But once we finally leave the EU a year after next, a big surge.”
Mr Fraser noted: “That is the Bank of England.
“It is interesting because they are not very Brexit optimists.
“But if you are thinking if things are going to resolve themselves if at the end of next year we leave…
“Well, lots of money will be spent but we will have to wait a while.”
Capital Economics – an Economic research consultancy – also expects that if Britain leaves the EU with Mr Johnson’s deal, the country deal could turn around business investment.
The consultancy claims it could turn from a contraction of 0.5pc this year to growth of 4.1pc in 2020 and 6.7pc in 2021, on a par with growth seen in 2012 and 2014, and almost back to the post-crisis high of 7.2pc in 2015.
Yesterday, in a column for the Daily Telegraph, Boris Johnson wrote: “With every week that goes by, this delay is costing us all.
“If we can get Brexit done, there are hundreds of billions of pounds of investment that are just waiting to flood into this country.
“If we get Brexit done, businesses and families will have the certainty to take key decisions – taking a new job, buying a new house – that are currently on hold.
“If we get Brexit done we can inject a surge of confidence into the UK and the UK economy.”
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