“All that "project fear" really amounts to is pointing out this obvious truth.”
No it isn’t. It’s about painting a picture that portrays everything that could possibly go wrong actually going wrong. Clearly with even the most intransigent of negotiators on the EU side, the individual 27 remaining members will not allow that because they have interests in an orderly Brexit as well. But in one particular respect that I mentioned relating to Project Fear you are incorrect, Jim:
“2. In any case, it actually *was* leaving, rather than merely voting to leave, that was the "D-Day" of any negative consequences of leaving.”
Whilst much of Project Fear was directed to the UK’s situation after we had actually left, quite a bit of it related to what would happen immediately after a vote to leave. Most prominent among the prophets of doom in this respect was the then Chancellor, George Osborne. On 23rd May 2016 he espoused this:
“Today the Treasury is publishing its detailed and rigorous analysis of the immediate impact of leaving the EU on growth, jobs, prices, wages, house prices and our nation’s finances.”
You can read all 90 pages of the analysis here:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/524967/hm_treasury_analysis_the_immediate_economic_impact_of_leaving_the_eu_web.pdf
I have to admit I have not read it all because, having read the Executive Summary and realising what a load of garbage it was I didn’t see the need to delve into the details. However, to address your point, the report opened with this:
“This paper focuses on the immediate economic impact of a vote to leave and the two years that follow.”
So, not what would happen after we had left but what was forecast to happen between the referendum and now.
Mr Osborne prattled on:
“The central conclusions of today’s Treasury analysis are clear – a vote to leave will push our economy into a recession.
Within two years the size of our economy – our GDP – would be at least 3% smaller as a result of leaving the EU – and it could be as much as 6% smaller.
We’d have a year of negative growth – that’s a recession.
The pound would fall in value – by between 12% and 15%. That doesn’t just mean it’s more expensive when you have a holiday abroad.It means everything we import becomes more expensive, which increases inflation and hits family budgets.
Within a year of the Referendum, inflation would be over 2% higher.
By 2018 house prices would be hit by at least 10% and as much as 18%.
So that’s what it means to vote to leave the EU.
Incomes fall.
Mortgage rates go up.
And the value of the family home falls too.
Behind all this – what people can afford to buy, where they can afford to live – are people’s jobs.
And so I want to talk to you about the impact on jobs too. The Treasury’s analysis published today finds that a direct consequence of a vote to leave the EU would be significant job losses across the UK. Within two years, at least half a million jobs would be lost. That’s 80,000 jobs in the Midlands. Over 100,000 jobs across the North. Over 40,000 in Scotland; over 20,000 in Wales; almost 15,000 in Northern Ireland. In London over 70,000 jobs would be lost. Here across the South, almost 120,000 jobs would go. And that’s the lower end of the estimates – across Britain as many as 820,000 jobs could be lost. Youth unemployment would rise by over 10%.”
I’ll leave you to compare the Treasury’s detailed and rigorous analysis with what actually happened. I’ll also leave you to ponder on why anybody should pay heed to Project Fear Mk 2 when the forecast impact of a large part of Project Fear Mk 1 was so profoundly incorrect. Of course it's important to plan for every eventuality. That's why the Government and Business should have planned for a "No Deal" exit from Day 1. But there's a big difference between planning for the worst and scaring the electorate witless.