EU – UK Economic Benefits, Fact OR Fiction? A Picture Reveals All

Within modern politics there is an immense amount of “spin,” or public-relations to give it its correct term, perhaps understandable given the “communications’ age,” that we live in.

Looking closer at that statement, spin is defined as a form of propaganda, achieved through providing a biased interpretation of an event or campaigning to persuade public opinion in favour or against some organisation.

In respect of the Brexit campaign there is little doubt that whilst the “leave” faction wish to debate issues outside of the UK economy (GDP) and the Pound, such as the control of borders, law-making and sovereignty and of course the topical immigration issues, the “stay-in” camp are adamant to focus solely on the economic benefits of remaining within the EU, including the perceived fortunes for the pound, jobs, mortgage costs and house-prices, all backed-up by the “great and the good experts,” from the financial institutions of the IMF, OECD, World Bank, not forgetting a rafter of central bank heads and multi-national business CEOs’.

The economic “spin” appears to be hard to argue against, at least thus far by the “leave” campaigners. But why?

Followers of this column will know that we love to present charts of economic data, for the sole reason that “charts do not lie,” they are a “picture” of what it is, regardless of any spin and/or distortions. So with this in mind the following is a near 50-year picture of UK GDP and the £GBP/$US:

 8 June 2016

Both variables, the economy and the British pound have seen  a  falling trend for this whole period, which dispels the myth that EU membership has been of major benefit to them, so why would this suddenly change now?

 

 

 

 

 

 

 

 

 

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2 responses to this post.

  1. […] « EU – UK Economic Benefits, Fact OR Fiction? A Picture Reveals All […]

    Reply

  2. […] early June posting, “Economic Benefits, Fact OR Fiction?,” demonstrated the fact that UK GDP and the British pound had been falling throughout the 40-odd years […]

    Reply

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