The United Kingdom’s economy grew by 0.5% in the quarter following the European Union Referendum. This has provoked Leave campaigners into claiming that Brexit has not devastated the economy.
Pulse Politics can point out an important fact on this issue though:
Brexit cannot have devastated the economy as it hasn’t happened yet
With Prime Minister Theresa May (CON – Maidenhead) not planning on triggering Article 50 until March 2017, any changes in the UK’s economic growth at this stage are just tremors from predictions on what the Brexit plans that have been publicly revealed would do to the British economy, which did cause shockwaves in the Stock Market, but have recovered thus far.
Chancellor Phillip Hammond (CON – Runnymede and Weybridge) said:
“We are moving into a period of negotiations with the EU and we are determined to get the very best deal for households and businesses.
“The economy will need to adjust to a new relationship with the EU, but we are well-placed to deal with the challenges and take advantage of the opportunities ahead.
“I am confident that our strong links with the rest of the world will stand us in good stead as we deliver an economy that works for everyone.”
The long-term effects of Brexit, predictably, are yet to be seen.