Daily Star - - News - by ALEXAN­DER BROWN

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.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.