A renegade group of pro-Brexit economists have laid out their plans for how the UK should navigate the instability caused by the UK leaving the European Union.
They claim UK GDP could grow by 2.3 per cent this year and 2.7 per cent in 2017 if the government follows their advice to unilaterally dismantle all tariff barriers.
Most economists and independent bodies – such as the International Monetary Fund and the Bank of England – have warned the country’s economy will suffer as a result of the vote and could dip in to a technical recession.
“Despite near term uncertainty, Brexit is in the long term best interests of the economy,” said Gerard Lyons, co-chair of Economists for Brexit,“This is possible with a points based migration system, returning sovereignty to Westminster but being outside the Single Market.”
A poll by City lobby group the Institute of Directors ahead of the referendum found six in 10 of its members said the Single Market was important to their business.