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More or Less: Behind the Stats

How wrong were the Brexit forecasts?

More or Less: Behind the Stats

BBC

Business, Mathematics, Science, News Commentary, News

4.63.5K Ratings

🗓️ 9 December 2016

⏱️ 24 minutes

🧾️ Download transcript

Summary

The economic doom that never was; childhood cancer figures and Ed Balls

Transcript

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0:00.0

This is the BBC.

0:02.0

Hello, this is me, Tim Harford.

0:06.0

Thank you very much for downloading the longer Radio 4 edition of More or Less,

0:11.0

which was first broadcast on Friday the 9th of December.

0:15.0

Hello and welcome to more or less.

0:17.5

We're your weekly guide to the numbers all around us in the news and in life,

0:21.5

and I'm Tim Harford. This week we'll be looking at media claims that cancer rates

0:26.8

are rising in children. Modern life is killing them, we're told. Fidel Castro is dead, but communism is alive and well, at least if you're having a romantic dinner for two.

0:38.0

And Ed Balls. But we begin with the time lord of Surrey Heath, Michael Gove, telling the House of Commons

0:47.9

that despite the referendum vote, the British economy was doing pretty well. The 17 million people who voted to leave the European Union in this country

1:01.0

know a darn sight more about economics than the members of the IMF, the OECD, the IFS

1:06.6

and all these other squad diesel experts who have ugh on their face.

1:15.0

Most economists thought that leaving the European Union would damage the British economy.

1:22.0

But Mr Gove, one of the leaders of the successful campaign

1:24.6

to leave the European Union, clearly thinks they've been proved wrong. Many of them were long-term

1:30.1

forecasts, looking ahead to 2030.

1:33.0

Now perhaps Mr Gove has been using his Tardis, but so far we've learned very little about what the

1:37.9

British economy may look like and whether those expert forecasts will be proved right or wrong.

1:43.6

Still there were many forecasts of the near-term impact of a vote to leave the EU.

1:48.9

Here's George Osborne, a man who used to have an important job. A vote to leave will push our economy into a recession.

1:57.0

Within two years the size of our economy our GDP would be at least 3% smaller as a result of leaving the EU and it could be as much as 6% smaller.

2:07.0

We'd have a year of negative growth, that's a recession.

...

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