UK economy will grow FASTER after Brexit, even with 'no deal' predicts economist

Patrick Minford hailed the UK’s employment figures,
which are rising “relentlessly”, in spite of the
“Remoaner lobby” who claim businesses are
“traumatised by the uncertainty of Brexit”.
So much so, the leading macroeconomist said the EU
would not want Britain to leave without a trade deal
because it would “run into severe competition”.
He said the economy had continued to grow at a
“moderate pace in the 2 per cent to 3 per cent range”
as it did after the financial crisis.
But Mr Minford said: “Once Brexit policies are finally
in place, it promises to grow significantly faster as
free trade and its implied competition work through.
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Britain voted to leave the EU on June 23 last year
“To boot, business is currently enjoying the profit gains
from the large Brexit devaluation.”
Mr Minford, who holds the chair of Applied Economics
at Cardiff University, also insisted the EU would not be
able to punish Britain by interfering with the flow of
exports when the nation finally unshackles itself from
the embattled bloc.
Writing for Brexit Central, he said: “Whether by non-
tariff barriers, old-fashioned non-computerised customs
procedures or refusing to sign mutual agreements to
standards. All such discrimination is outlawed by WTO
agreements to which the EU is a signatory.
“The EU fails in many respects, but law-abiding it
certainly is and will surely remain.”
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Mon, March 20, 2017
Budget 2017: Philip Hammond hailed Britain’s
booming Brexit economy today as he delivered his
first Budget of the year
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He added: “What many have not really grasped,
however, is that the EU’s tariffs on our manufactures
average low percentages - around the 3.5 per cent
mark.
“We can easily absorb them, especially with sterling
about 15 per cent lower due to the Brexit devaluation.”
The chief economist also insisted the Brussels club
would not want Britain to leave the EU without a trade
deal.
He said: “We will sign free trade deals with many other
countries which will send us goods at much lower
prices than the current EU-protected ones.
Theresa May is steering the UK out of the EU
“EU exporters will not just face the same low tariffs
which we will no doubt proceed to levy on them if
there is no deal, they will also face much tougher
competition will which will force them to lower their
prices sharply.”
Offering a positive post-Brexit outlook, Mr Minford said
Britain had enjoyed a good exports volume which was
up 6.2 per cent on a year earlier.
He wrote: “An encouraging factor in the picture is the
recovery in the euro-zone economy after years of euro
crisis.
“The PMIs in the zone are at similar levels to ours. As
the Government has frequently said, it is certainly not
in our interests to have a weak EU.
“This remains the market for just over 40 per cent of
our exports and will continue to be so whether we sign
a free trade agreement with the EU or not.”

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