Sadiq Khan restarted Project Fear today by publishing a taxpayer-funded report into Brexit that claims a no-deal scenario could cost Britain £54billion and 500,000 jobs.
The London Mayor ordered an impact assessment after Brexit Secretary David Davis admitted he had not done so, claiming the forecasts would be inaccurate.
Mr Khan’s survey tries to work out how five different Brexit scenarios ranging from staying in the single market and customs union to an immediate no deal exit will play out until 2030.
None of the scenarios consider Britain achieving its objective of a two year transition period followed by a bespoke trade deal.
The Mayor said his report, prepared by analysis firm Cambridge Econometrics, showed the impact of quitting the EU was greater the harder the Brexit agreement.
Patrick Minford, Chairman of Economists for Free Trade, said: ‘These ridiculously pessimistic studies are the latest attempts to use taxpayers’ money to pump life into Project Fear.
‘Our own assessments, using the correct economic model suited to free trade, show the clear benefits of Britain making a swift, clean break from the EU.’
To read MailOnline’s report in full, click here.