Brexit-backing economists predict 'boom time' for UK
The UK economy will boom once the country is freed from the "destructive cack-handed" Brussels decision-making that has held back growth, according to a group of Brexit-backing economists.
Introducing the euro was an "unmitigated disaster" but the European Union's poor economic performance pre-dates the creation of the single currency, the 16-strong Economists for Free Trade claimed. It said "barmy" plans for harmonisation, integration and Europeanisation meant the bloc had a dire record against emerging markets as well as the US, Canada and Australia.
But campaigners against a hard Brexit said there were "members of the Flat Earth Society with more credibility" than the group of economists.
Horse-trading of individual country interests, misuse of EU funds and an "excessive regulatory zeal" have all hindered growth, according to Economists for Free Trade's Brexit paper.
Author Roger Bootle, chairman of consultancy Capital Economics, said: "While the leaders of the rapidly growing countries of Asia were busying themselves with the fundamentals of economic growth, in Europe their equivalents were obsessed with unnecessary and damaging integrations.
"Unshackled from the EU and its destructive policies, there is every chance that the UK will enjoy a faster rate of economic growth - faster than it enjoyed in the past while a member, and faster than the remaining members in the future."
Mr Bootle, who has also advised the Commons Treasury select committee, said the benefits of the single market had been "greatly oversold".