Douglas Carswell

05 JAN 2017

Why Project Fear won't die

The post-referendum recession George Osborne promised never happened. So why won't the doomsayers admit they got it wrong?

The economic news since the referendum has largely been good. Markets are up. Unemployment is down. The economy is still growing. Investment is flowing in. Construction and manufacturing are expanding, while our trade deficit is closing.

Moreover, international politics has changed. With President Trump, Britain will move from the back of the queue for a trade deal with the world's biggest economy to the front.

But has any of this provoked a rethink from the scaremongers? Although many Remainer politicos and pundits are coming round to embrace the opportunities of Brexit, there are still some – ever more desperate and shrill – promoting Project Fear.

What this reveals is that Brexit pessimism isn't rooted in data, but rather on false assumptions.

"Experts" still overlook the prospect of scrapping trade barriers with the world beyond the EU, or cutting the burden of EU regulation on small business. Pundits still can't tell the difference between membership of the single market and access to it.

Ultimately, many members of the ruling elite can't get their head around the fact that trade is organic and self-organising – and doesn't require centralised orchestration by people like them.

They're heading for a rude awakening.

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