Mr Carney's fantasy world.

Right from the start the Remainers have tried to paint a picture that leaving the EU without a deal with the EU would be bad.  They are of course talking in straight economic terms though you could find economists and business on both sides of that particular argument.   

I can only compare his analogy as going into a car show room and being told that the car on offer is £x.  After negotiations he would, using the methodology he has used, come away paying more than the offer price on the windscreen.  It really was that bad.  Even respected economists who support Remain could be seen cringing.   

Will the UK be worse off in the long term leaving without a deal with the EU?  Possibly.  But in the long term, probably not.   

Will the UK be worse off in the short term leaving without a deal with the EU?  Possibly, but not by much. Certainly not the fantasy Mr Carney portrays. 

Only the extremists on the Leave and Remain camps claim that it will be heaven if they get their way and the other place if they don’t.   

The hard reality is, leaving the EU without a deal with the EU simply transfers us immediately over to WTO.  So we will have a deal with the EU immediately.  Just not the one they want.  

Now given 60% of our trade already is done under WTO and experiences no problems in Just In Time supply chain logistics, why would that be any different when dealing with the EU under the same rules as we do with the rest of the world?    

Well, of course it wouldn’t be, or rather shouldn’t be.  That is unless the EU wants to end up in court for breaching WTO agreements.   

So why did Mr Carney even use the example of there being no trade with both the EU and the rest of the world as one of the possible positions?  Or who told him to say that?

 Ask him, not me.