News

Avoid “suicide mission” by ditching Chequers disaster and opt for Canada deal, Brexiteers urge PM

Jul 15, 2018

The Prime Minister has been urged by senior Brexiteers to ditch her plans for a soft Brexit and pursue a “superior” Canada-style deal. Theresa May published her controversial White Paper on Thursday which would pave the way for the softest possible Brexit when Britain leaves the bloc next March. In response, Brexiteers have drafted a […]


Economists respond to Brexit White Paper

Jul 12, 2018

“This country needs a leader who will deliver a proper Brexit and ensure that the British people are able to embrace and enjoy the economic benefits it brings. If Theresa May isn’t up to the job, the Conservative Party should replace her with someone who is.” – EFT Chairman Patrick Minford


Jacob Rees-Mogg responds to Brexit White Paper

Jul 12, 2018

“This is the greatest vassalage since King John paid homage to Phillip II at Le Goulet in 1200.”- EFT Advisor Jacob Rees-Mogg MP


Top Economist Warns Against “Fake Brexit”

Jul 05, 2018

Now it is important that Brexit does actually mean Brexit and not a “fake Brexit” where any trade deals leave the UK subject to EU law and regulation, EU tariffs which pump up prices at the expense of the UK consumer and prevents the UK from striking free trade deals outside of the EU – Neil MacKinnon


Response to the proposed customs partnership ‘fudge’ proposed for Chequers Cabinet

Jul 04, 2018

“A clean break with the EU would boost the UK economy by 7 per cent of GDP and benefit the poorest in society by cutting the costs of food, clothing and footwear. A fudge would be a disaster.” – EFT Chairman Professor Patrick Minford


Calm down Cabinet! Economists show Brexit will trigger plenty of money for your pet spending projects – and tax cuts

Jul 01, 2018

Professor Minford was backed by Jacob Rees-Mogg, chairman of the 60-strong European Research Group of pro-Brexit Conservative MPs.  Rees-Mogg said: “The gloom-laden, almost crepuscular Treasury and its friends need not fret over Brexit or its desire to raise taxes. The EFT study shows quite clearly that the boost to the economy from a clean Brexit will enable the virtuous circle of higher spending on priority areas, such as the NHS, while enabling the Chancellor to cut taxes rather than raise them. Nigel Lawson achieved this when he was Chancellor and it could be done again”.


May urged to speed up planning for World Trade Deal

Jun 24, 2018

Theresa May should speed up preparations for Britain to revert to a World Trade Deal under WTO rules if Brussels refuses a free trade deal, according to some 60 economists, business people and leading politicians, who have written to her ahead of the EU summit later this week.


Brexit dividend WILL pay for NHS budget boost

Jun 18, 2018

The Prime Minister has committed to raising the NHS budget by £20 billion per year. This is entirely in line with our projections of what is available from the Brexit Dividend. The IFS is completely wrong in its calculations – it does not require extra taxation. Indeed it leaves £5 billion a year to be used for tax cuts if so desired.


Response to Paul Johnson’s dismissal of the Brexit dividend

Jun 17, 2018

The total gain to GDP from all aspects of Brexit is estimated at 7 per cent of GDP with a 10 per cent gain to HMRC revenue, enabling a large Brexit Dividend – EFT Chairman, Professor Patrick Minford


World Trade Deal can break Brexit deadlock, say top economists

Jun 17, 2018

A World Trade Deal – under WTO rules that govern the vast bulk of global trade – is the best bet for the UK with Brexit talks bogged down and little sign of progress with a hostile and intransigent EU.


Customs costs close to zero when computerised, say leading economists

May 23, 2018

“Jon Thomson’s figures are not consistent with what we know are the customs costs of repeat traffic loads when process by the seamless procedures mandated by the WTO” – Professor Patrick Minford


Response to Mark Carney’s evidence to the Treasury Select Committee

May 22, 2018

“Carney’s and the Bank’s forecasts for 2017 were far too pessimistic – the Brexit decision has not reduced growth. Britain is currently at full employment and wages are accelerating” – Professor Patrick Minford


Civil servants “totally misleading” public on cost of leaving customs union

May 14, 2018

“The enormity of this effort to mislead by the Civil Service can hardly be exaggerated. It is no wonder that it has confused Parliament, the people at large, and even some members of the Cabinet” – Professor Patrick Minford


The House of Lords is WRONG – Brexit will bring a 20 per cent CUT in food prices

May 10, 2018

Removing EU protection will give us a 4 per cent gain in GDP, and an 8 per cent fall in consumer prices. This will include the immediate fall in food prices by 20 per cent as EU protection is ended and tariffs on food imported from outside the EU are cut – Professor Patrick Minford


Revealed: Osborne’s Project Fear campaign was wrong by £100 billion – new study

Apr 22, 2018

The paper by Timothy Congdon, a world leading monetary analyst, member of Economists for Free Trade, and founder of City firm Lombard Street Research, describes Project Fear – the brainchild of the former Chancellor, George Osborne – as a “gross miscarriage of government” that was wrong by nearly 5 per cent of GDP.


Big tax cuts are within reach, say pro-Brexit economists

Mar 11, 2018

The UK economy continues to confound all those pessimistic forecasters who saw gloom and doom descending on us after the Brexit vote – and that amounts to nearly every official forecasting organisation, but notably not Economists for Free Trade – Roger Bootle


Cabinet told to forget flawed official forecasts – Whitehall’s secret new model shows Brexit will boost GDP by up to 4 per cent

Feb 21, 2018

The study, described as the Alternative Brexit Economic Analysis (ABEA), flatly rejects the Whitehall verdict, leaked to the news website Buzzfeed earlier this month. It predicts that leaving the EU will boost the country’s economy by 2-4 per cent, in contrast with the Whitehall forecasts of up to an 8 per cent hit to gross domestic product.


Pessimistic civil servants are cooking the books – Patrick Minford

Feb 08, 2018

Our figures, using the correct methodology and an economic model suited to free trade, show that harnessing free trade would boost the UK economy by four per cent in the long term – Patrick Minford


Failing to ditch EU regulations could cost UK £240 billion a year

Feb 04, 2018

As a member state of the EU, excessive regulation costs the UK £120 billion a year but if the UK continues to align closely to EU regulation – specifically satisfying EU social and political objectives – the cost could rise to as much as 12 per cent of GDP – £240 billion.


Economists for Free Trade responds to the pessimistic leaked impact report

Jan 30, 2018

“The Treasury, together with any others involved in this report, have clearly used the same discredited methods that it used to produce Project Fear. Because of this, their estimates should be disregarded.” – Professor Patrick Minford


Economists for Free Trade response to Sadiq Khan’s Brexit impact assessments

Jan 11, 2018

“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 – Patrick Minford


Professor Patrick Minford responds to the Chancellor’s Autumn Budget

Nov 22, 2017

What was missing in the Budget today was any detail on how Britain’s economic policy can and must change when we leave the EU to a lighter touch, lower tax, lower spending economic model that offers a clean break from the high regulation, high tax, high spend approach of the EU – Patrick Minford


Jacob Rees-Mogg MP to deliver ‘Budget for Brexit’

Nov 13, 2017

Mr Rees-Mogg will say: “The Chancellor generously asked for ideas for his Budget, so with the help of Patrick Minford, I am delighted to offer some suggestions that are positive and will contribute to a bold Brexit.”


Brexit to bring £65 billion Budget bonanza of tax cuts and spending rises

Nov 12, 2017

In a key intervention just a week before the Chancellor delivers his 2017 Budget, Economists for Free Trade will unveil their ‘Budget for Brexit’ report, which says that quitting the EU will reinvigorate the British economy, creating a flood of extra revenue for the Exchequer that can be used to cut taxes, boost state spending and slash the national debt.


Professor Patrick Minford responds to the Prime Minister’s Florence speech

Sep 22, 2017

We are extremely disappointed that the Prime Minister seems to have committed to a vague transitional period of ‘around two years’ at this early stage in the negotiations – Patrick Minford


Professor David Paton: Boris is right. Brexit does mean taking full control of £350 million a week

Sep 18, 2017

Sir David’s letter is simply wrong and presumably will need to be retracted…the £350m figure is actually an underestimate of our gross payments when we leave.


Britain’s poorest families will be the biggest winners from Brexit

Sep 03, 2017

Britain’s poorest families will be the biggest gainers from Brexit, according to a new report from a team of leading economists and businessmen from across the political spectrum.


Brexit will break the EU’s shackles on the British economy, say 16 leading economists

Aug 24, 2017

Sixteen senior economists have today said that a clean Brexit will enable Britain to break free from the EU’s shackles and “destructive policies” that have held back the British economy.


Brexit could boost UK economy by £135 billion, say top economists

Aug 14, 2017

Brexit could boost the UK economy by as much as £135 billion a year, according to a comprehensive new report by a team of leading economists who argue that it is time to abandon the gloomy forecasts of Project Fear and embrace Project Prosperity.


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