'This is Project Hysteria': Brexiteers slam Bank of England chief after he warned No Deal doomsday could cause the worst recession since the 1930s and plunge house prices by 30% | WHAT REALLY HAPPENED


'This is Project Hysteria': Brexiteers slam Bank of England chief after he warned No Deal doomsday could cause the worst recession since the 1930s and plunge house prices by 30%

The Bank of England has warned the pound would crash, inflation will soar and interest rates would have to rise in the event of a no deal disorderly Brexit.

Bank Governor Mark Carney said the impact of Brexit would depend entirely on whether there was a deal but said he had a duty to spell out what might happen.

Mr Carney said the Bank's job was not to 'hope for the best but prepare for the worst' - but his blood-curdling claims will enrage Brexiteers.

The figures are contained in a 'worst case scenario' published by the Bank which suggests in a last-minute no deal, no transition Brexit Britain's GDP could plunge rapidly by 8 per cent - much worse than the 2008 financial crisis.

But he faced a backlash from Eurosceptic MPs, who accused him of mobilising ‘Project Hysteria’ in support of Mrs May’s deal.

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