Nigel Farage has said Britain is heading for a “mild” recession – but it has nothing to do with Brexit.
The victorious Leave campaigner rejected warnings that leaving the European Union will have dire consequences for the UK economy, even as markets were rocked by Thursday’s result.
Sterling plummeted to its lowest level against the US dollar for 35 years as the tide turned in favour of leaving the EU in the early hours of Friday morning.
The dramatic slide was followed by chaos on trading floors around the world as pre-polling jitters turned into panic and uncertainty following the leave vote and David Cameron’s resignation.
However Mr Farage said Britain’s exit from the Union, for which he has campaigned for 25 years, would not be damaging.
“There’s nothing new here,” he told the Sunday Telegraph.
“I think we are going into a mild recession anyway, completely regardless of Brexit. Our growth forecasts are down. Our public-sector borrowing is still not under control at all and everyone forgets that sterling is in a bear market, declining since July 2014.”
Mr Farage said “increased global opportunities” await outside the single market.
“There is no reason why we really couldn’t be benefiting two years from now,” he told the newspaper.
He said he felt sympathy for Mr Cameron, but it was now time for a pro-Brexit government led by a pro-Brexit prime minister.
He stopped short of backing any particular candidate, but said he would be “happy” to see Boris Johnson, Michael Gove or Liam Fox in the post.
“Brexit prime minister, that’s all I want,” he said.
