[Osem]

Originally Posted by Stuart

You do realise Brexit has not actually happened yet? No one said the vote would cause a recession. They said that Brexit may well cause a recession.

It may do, it may not. However, in the absence of any hard information on what is going to happen, I would argue it is prudent to expect the worst, but hope to get the best. Certainly better than expecting the best, then finding out that is not going to happen whatever you do.

Osborne told us there'd need to be an emergency budget if we voted to leave - not when we left. Clearly he wasn't suggesting there'd be a boom.

George Osborne will warn that he would have to fill the £30bn black hole in public finances triggered by a vote to leave the European Union by hiking income tax, alcohol and petrol duties and making massive cuts to the NHS, schools and defence.

In a sign of the panic gripping the remain campaign, the chancellor plans to say that the hit to the economy will be so large that he will have little choice but to tear apart Conservative manifesto promises in an emergency budget delivered within weeks of an out vote.

“Far from freeing up money to spend on public services as the leave campaign would like you to believe, quitting the EU would mean less money,” Osborne will say. “Billions less. It’s a lose-lose situation for British families and we shouldn’t risk it.”

The chancellor will spell out his concerns at an event where he will be joined by his predecessor, Alistair Darling. The Labour politician will say he is more worried now than he was during the 2008 financial crisis, arguing that a Brexit vote will result in not just one emergency budget but “one after another”.

https://www.theguardian.com/politics...es-to-leave-eu