George Osborne’s disastrous experiment brought about the EU referendum vote – now the economy needs stimulus
The pound has collapsed to a 30-year low and the share prices of banks, estate agents and homebuilders are down sharply amid recession fears since the Brexit vote. A big house price drop seems inevitable, especially in London. The UK’s holdings in RBS alone are down by a third in a week; 9.1bn shares have dropped in value by about 80p a share, so that is a loss of more than £7bn. Add to that a drop of 17p in the value of the 15bn shares in Lloyds Bank the country owns, and, as a starter, Michael Gove, Boris Johnson and the leavers have already cost the country more than £10bn in losses….
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