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Project Fear hit again as Government runs July budget surplus for first time in 15 years

Once again the predictions of ‘Project Fear’ have proved incorrect as new figures show a public surplus in July of £0.2bn.

These new stats from the Office of National Statistics illustrate further that many predictions made by the Remain side, especially the then Chancellor of the Exchequer, George Osborne, have turned out to be false.

Although many campaigns, including Better Off Out, had faith that post-Brexit vote the UK economy would hold up, this was not the case for the Treasury. During this time, George Osborne made numerous claims that have been proven false in the months since. Another claim made by ‘Team Fear’, that unemployment would increase by 500,000 in the wake of the Brexit vote, has also been widely dismissed as recent figures have proved that over a year on since the referendum unemployment is at its lowest level in 42 years.

Commenting on this, Director of Better Off Out, Rory Broomfield, said:

“The vote to leave the EU was never just about the economy, however, the Remain side did try to make it the most central part of the campaign.

Yet, despite their predictions of doom and gloom, these new figures give further confidence in the resilience of the British people and that it is they, not politicians, who are best placed to create a better future for themselves and their country.”

He continued:

“Although the biggest prize in the leaving the EU is to be able to make our own laws, we should continue to have a dynamic economy that brims with opportunity and ensures the UK can look forward to a bright future.

This is why we must leave both the so called ‘EU Single Market’ and Customs Union in a way that allows businesses to trade with both the EU and the wider world.”

For details of a way to do this, please see Cutting the Gordian Knot: A Roadmap for British Exit from the European Union, co-authored by Rory and Iain Murray of the Competitive Enterprise Institute.

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