Paul Johnson, the much respected director of the IFS has been speaking to the Huffington Post (HERE). He takes issue with the Daily Mail for attacking the IFS for "doom mongering" over a report saying the last decade was the worst for growth since the 1920s. He points out this wasn't even a forecast but a statement of fact!
However, his substantive point is about economic forecasts is that some of them before the referendum were wrong but mainly on timing. The fall in the value of the pound is he says a bit like boiling a frog - it may take some time before the effects come through. Also he says, if trade with our biggest partner is harder, it will make us poorer and “If that doesn’t have a negative economic effect then frankly the economics profession really is in trouble,”
I think this must be the overwhelming view of all right thinking people.
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