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Tuesday, 19 April 2016

Osborne turns to Algebra to "prove" his forecasts.

http://www.independent.co.uk/news/business/analysis-and-features/does-the-treasurys-brexit-equation-stand-up-to-scrutiny-a6989356.html



Does the Treasury's Brexit equation stand up to scrutiny?




Osborne looking puzzled?


Osborne forecasts that families will be £4300 by 2030. He also announces that wages will be lower, prices will be higher and living standards will fall. To "prove" this highly speculative piece of nonsense he points to The Treasury's "Brexit" equations, which seems to be little more than Algebraic gobbledegook, scribbled on a  "Post it" pad page and offered to the British people as irrefutable evidence that everyone should vote "Remain" in the forthcoming referendum. (How many people actually understand the Algebra in any case?)



The Treasury "Brexit" equation.

During his tenure as Chancellor of the Exchequer, Osborne's (and the Treasury's), "forecasts" have been wildly inaccurate more often than they have been stunningly correct. Even with the Algebra, this latest prediction seems destined for the "wildly inaccurate" file.