POUND FALL ‘GOOD’

THE tumbling value of the pound is good for Britain, a multi-millionaire Tory MP has claimed.

Jacob Rees-Mogg said it was great news for the economy, despite squeezing pay packets.

He said: “The pound had been overvalued for some time and it needed to fall in order to make the UK more competitive. The weak pound should help rebalance the economy by slowing the growth of consumer spending.”

He also praised Brexit for the fall in the pound’s value, which has been blasted by economists.