Magazine
Latest Issue

When it comes to the falling pound, “project fear” has been vindicated

The alarming drop in the value of sterling will hit living standards—and holidaymakers

By Vicky Pryce  

Photo: Gareth Fuller/PA Archive/PA Images

If there is one thing Brexiteers admit that “scaremongering” economists got right it is the exchange rate, which has been very weak since the referendum. I remember being on a platform at the LSE on 23rd June 2016 when the first results came in from Sunderland, which declared 60:40 in favour of Leave. This spelled the end of Remainer hopes. Behind us on the screen, which was showing the BBC programme, sterling promptly went into a nosedive and has since stayed down at some 10-15…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect