The report was published two years ago and has been controversial.
A report by the Economists for Free Trade have calculated that the opportunities from the UK going global under a “No Deal” Brexit may give the UK an extra £135 billion per year. This is not including money saved in EU membership fees.
The report is from a team of highly experienced economists who have conducted an in-depth 50 page report into the opportunities of a no-deal Brexit. The report is called: From Project Fear to Project Prosperity.
The group of experts, which includes Patrick Minford, Professor of Economics at Cardiff University and Roger Bootle, Chairman of Capital Economics, Europe’s largest macroeconomics consultancy, all suggest the UK will be much better off under a truly free Britain, outside the constraints of the EU.
The UK will be better off
Professor Minford declares: “’Hard Brexit’ is good for the UK economically while ‘Soft Brexit’ leaves us as badly off as before…’Hard’ is economically much superior to ‘Soft’.
“Backers of ‘Soft Brexit’ say it would preserve jobs, but what they really mean is that it would preserve existing jobs by stopping competition from home and abroad.
“As every schoolboy knows and every politician ought to know, this aborting of competition reduces jobs in the long run…Competition increases productivity and so employment because higher wages paid for by higher productivity makes work more attractive. Competition also increases our general welfare because we are producing more.”