Brexit: Johnson, Raab and Javid are advocating financial ruin by promising a no-deal

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. According to the Conservative government’s economic impact assessment of a no-deal Brexit on business and trade, over a 15-year period the economy will be between 6.3 per cent and 9 per cent smaller than it would have been compared to continuing as an EU member. The report also says the EU would introduce tariffs of around 70 per cent on beef and 45 per cent on lamb exports, which is the last thing our agricultural industry needs. Support free-thinking journalism and attend Independent events The immediate inflationary effects of the depreciation in sterling following the 2016 vote, which saw it rise to 2.8 per cent in 2017, have receded with inflation sitting at 2.1 per cent just above the Bank of England’s 2 per cent target. He said the “apparent disconnect does not necessarily mean that markets are complacent – the policy uncertainty index might be more sensitive to short-term political developments, while market indices could also be factoring in a belief that monetary policy might be able to offset the impact of shocks.” However the deputy governor went on to say that “if market participants are underestimating the extent of political risks materialising, that suggests the potential for sharp price corrections if those shocks do come about.” Arguably the signs are that investors are underestimating the stupidity of a Tory party electing a no-deal Brexiter as leader and PM in the coming weeks.