Recession ‘not fault of Brexit’

BRITAIN is heading for a “mild recession” but it has nothing to do with leaving the EU, according to Ukip leader Nigel Farage.

The victorious Leave campaigner rejected forecasts that the Brexit vote will have dire consequences for the UK economy.

Remain campaigners have seized on the market turmoil which erupted on Friday in response to the referendum result.

Growth

But Mr Farage, who was a metals trader before entering politics, insisted: “There’s nothing new here.

“I think we are going into a mild recession anyway, completely regardless of Brexit. Our growth forecasts are down. Our public sector borrowing is still not under control at all and everyone forgets that sterling is in a bear market, declining since July 2014.”

Mr Farage said that Britain could look forward to “increased global opportunities” outside the EU single market as long as the UK government did its job of managing the economy.