Minford claimed that leaving the EU with out a commerce deal would have boosted the UK’s GDP by 4%
When just lately requested to call one economist who agreed along with her tax plans, Liz Truss named Patrick Minford.
Truss desires to slash £30bn off taxes funded by borrowing and with many mentioning flaws in her insurance policies she’s turned to Minford to offer her plans legitimacy.
Minford even wrote a chunk this weekend for the Each day Mail in reward of Truss.
So, who precisely is Minford? The economist got here to prominence in 1981 when over 300 economists wrote a letter criticising Margaret Thatcher’s disastrous financial insurance policies, Minford defended the federal government and obtained a letter from Thatcher congratulating him for his efforts.
Minford has additionally made some fairly outlandish predictions up to now, resulting in Will Hutton claiming that the economist was ‘flawed on each vital financial coverage’ for a technology’.
Minford claimed that leaving the EU with out a commerce deal would have boosted the UK’s GDP by 4% which has been at odds with most different fashions which confirmed {that a} onerous no-deal Brexit would injury the financial system.
John Spiers wrote on Twitter: “Liz Truss simply informed Radio 4 that she desires to observe the recommendation of Patrick Minford, a fringe economist who mentioned that for Brexit to succeed economically we must do away with farming and manufacturing and reside with a lot greater wage inequality.”
Minford additionally mentioned up to now that introducing a minimal wage would end in tens of millions being unemployed.
He’s also referred to as one of many few economists to be in help of Brexit and is the go-to economist for the ERG group of Tory MPs who’ve pushed for a tough Brexit.
Basit Mahmood is editor of Left Foot Ahead
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