Iain Duncan Smith strikes bullish note on Brexit and says 'every Treasury forecast has been wrong'

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Iain Duncan Smith was bullish in his interview with Julia Hartley-Brewer

Tory grandee Iain Duncan Smith has struck a bullish note on Brexit, while suggesting the Treasury has been consistently wrong on the economy.

Critics have suggested the £3bn set aside for Brexit in Philip Hammond's Budget is nothing more than a rainy-day fund to deal with a no-deal outcome, and suggested this disproves the claims made by Brexiteers in the run-up to the referendum.

But Duncan Smith ridiculed these claims, suggesting "A lot of this £3 billion is money that will have to be spent, regardless of what arrangements we make with the EU."

He also sounded a note of optimism on the economy, despite the gloomy forecasts announced in the Budget yesterday. 

"Pretty much every forecast made by the Treasury... has been wrong," Duncan Smith said, adding that the Office of Budget Responsibility was "overly pessimistic."

There was even time to aim a dig at Jeremy Corbyn and Labour for their "peculiar position" on Brexit, because they purport to respect the vote but have put down a series of amendments in Parliament against it.