25 November 2016


I'm in a nit-picking mood this morning.  The Independent reports:
Every household will lose a staggering £1,250 a year because of the Brexit vote, independent forecasters say – as they painted a devastating picture of falling living standards, including no increase in real wages for at least another decade.
No, no, no.  The IFS did not say that every household will lose £1250 per year:
IFS economist Andrew Hood said: “The OBR’s figures are for real GDP per household to be £1,250 lower in 2020-21, as a result of the vote to leave the EU.”
In other words, the average loss per household will be £1250.  But some will lose more; some will lose less.


No comments: