Should we be worried about the Bank of England’s post-Brexit forecast?
THE Governor of the Bank of England should talk up and support our currency, not forecast it is going to crash. What basis has Mark Carney to claim that house prices could fall by 30 per cent if there is a No Deal Brexit when there is more demand for housing than ever? As for predicting the worst recession in a hundred years, his previous forecasts proved to be wrong. T. SHORE, Addlestone, Surrey. DESPITE his doommongering, surely the fact that Mark Carney has become a British citizen proves he is optimistic about this country’s prosperity after Brexit. LYN WALSH, Macclesfield, Cheshire. THE Bank of England failed to predict the 2008 financial crash, but now claims to be able to foretell accurately what is going to happen in 15 years’ time. J. COLLINS, Chelmsford, Essex.
HoW can the Treasury forecast the economy over the next 15 years? Fifteen years ago, in 2003, the banking crisis and austerity were five years away, while the first iPhone wasn’t launched until 2007 and the iPad came out in 2010. Amazon was an internet book shop used only by geeks, and very few people did their shopping online. video and music streaming and social media were all years away. We had to wait until 2004 for Facebook, 2005 for YouTube and 2006 for Twitter. i would bet that the Treasury forecasts of 15 years ago would not have factored in all these essentials of modern life.
MICHAEL ALBIN, Blackburn, Lancs. I’M STILL waiting for Mark Carney’s best case scenario.
TED STICKLEY, Barnstaple, Devon. We HAve had Bank of england forecasts based on the worst possible outcomes of Brexit. Can we please have two more: the best possible outcome of Brexit and the worst possible outcome of staying in the eU? even if the gloom-mongers are right and we are financially worse off after Brexit, we will regain our pride in this great country and its history, traditions and customs. We will be trading with fast-growing countries, not just the declining eU. is anyone positive there will even be an eU in 15 years’ time?
TOM BODMAN, Shanklin, Isle of Wight. ALL this talk about how poor we might be after Brexit. I thought the important point was to take back control of our country.
W. MONTGOMERY, Perth. HAvinG survived Chancellor nigel Lawson, a flirtation with the eRM and 15 per cent interest rates, the worst of the Bank of england’s post-Brexit forecasts are a walk in the park.
A FLOYD, Tingewick, Bucks.