Bank of England are 'treating us like idiots', says David Davis MP

Mark Carney

Thursday, November 29, 2018

The former Brexit secretary has accused the Bank of England of treating the public like "idiots" with its latest economic forecast.

David Davis MP said the forecast about what would happen to the UK economy in the case of a no-deal Brexit was an "attempt to scare".

"Bluntly, they're treating us as idiots," Mr Davis told Julia Hartley-Brewer.



"This is ludicrous. If you want to test the ludicrousness there are two tests. Number one, what do they said they'd do if there was this downturn? What they say they'd do is make it worse, they'd put interest rates up. That tells you this is not rational, this is an attempt to scare."

The Conservative politician claimed the government had "never got it right" in terms of economic forecasting.

"The Bank of England, Office for Budget Responsibility and Treasure all make forecasts every year. When was the last time they got one right? They basically admitted never. They've never got it right.

"The threat is not Brexit, the threat is getting free trade moving and actually cartrying through Brexit will give us the freedom to do that, but these forecasts are just nonsense, they're not new nonsense, they're the same thing they've done before"


Bank 'used to be trustworthy', says Lord Nigel Lawson

Lord Nigel Lawson. Image: Getty

Former Chancellor of the Exchequer and Conservative pper, Lord Nigel Lawson, accused the Bank of England of "scaremongering".

"It used to be trustworthy, it's changed now under the governorship of Mr Carney," he told Julia Hartley-Brewer.

"What we've heard just now is completely irresponsible scaremongering and politically motivated, which is undesirable."