Carney ‘crying wolf’ on EU exit cost
MARK Carney’s continued role as Bank of England boss was questioned last night after he attempted to revive his Project Fear campaign against Brexit.
The Governor was strongly criticised after he claimed each household has lost £900 as a result of the vote to quit the EU, based on the Bank’s analysis prior to the referendum.
Brexiteers have described the analysis as “discredited” and now Mr Carney is being accused of “crying wolf” over the effect the vote has had on the British economy.
Speaking at a press conference yesterday, the 53-year-old Canadian claimed the Brexit vote had lowered growth by up to two per cent.
However, evidence points to a boom, with borrowing down year-on-year and at lower levels than the Office for Budget Responsibility had forecast.
Senior Tory backbencher Jacob Rees-Mogg, head of the pro-Brexit European Research Group, said: “The Governor cannot even get his forward guidance on interest rates right which is his main responsibility. So his endless crying wolf over Brexit simply discredits him and sadly the bank.”
Former Brexit minister David Jones said of Mr Carney, who is stepping down next year: “His downbeat attitude appears to be the product of his clear personal disappointment at the outcome of the referendum. He really should get over it.”
Professor Patrick Minford, chairman of Economists for Free Trade, said: “Carney’s and the Bank’s forecasts for 2017 were far too pessimistic. It is a relief Mark Carney is retiring as he seems incapable of understanding the Brexit process.”