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Millionaire Aaron Banks says £4,300 per family cost of Brexit is 'an absolute bargain

Millionaire Aaron Banks says £4,300 per family cost of Brexit is 'an absolute bargain'
Mr Banks, who bankrolls the Leave.EU campaign, says £4,300 a year is a small price to pay for restoring Britain's independence

Millionaire Brexit backer Aaron Banks has described the £4,300 a year it's claimed leaving the EU will cost British families as "an absolute bargain."

Mr Banks, who bankrolls the Leave.EU campaign supported by Nigel Farage and Tory MP Peter Bone , said the basis of the Treasury's claim was "flimsy", but said even if it were true, it would be worth the money to get out of the Union.

The shock claim comes in a 200-page Treasury report which claims Britain's economy would shrink 6% by 2030 if Britain copied Canada's approach - a deal pushed by Boris Johnson.

"Their worst-case scenario of £4,300 per household is a bargain basement price for the restoration of national independence and safe, secure borders," said Mr Banks.

"There are 6.7 million households in Britain, averaging about 2.3 people - £4,300 per year per would cost the average Briton just 21p per hour, and in exchange we'd be getting back the power to control immigration, set our own laws, manage our own farms and fishing waters, and strike our own trade deals."

A former Tory donor, insurance magnate Mr Banks switched to Ukip in 2014, donating £1m to Nigel Farage's party.

He has an estimated net worth of £100m, and a controlling interest in a diamond mine in South Africa.

TUC General Secretary Frances O’Grady said: “The millionaire who funds the Leave EU campaign may think £4,300 a year per family isn’t much money. But losing that much would be a disaster for most working families.

That’s why the TUC has consistently warned of Brexit ’s risk to jobs and to an economy that works for everyone."

Comments

  • arbrighton
    arbrighton Posts: 2,011 Forumite
    Ninth Anniversary Combo Breaker
    Why is this relevant on this board?
  • suki1964
    suki1964 Posts: 14,313 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    arbrighton wrote: »
    Why is this relevant on this board?


    It's not

    Plus he's stuck it on the dads board

    Plus it's a year old
  • pogofish
    pogofish Posts: 10,853 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Is the OP telling us they are Aaron Banks's mum..?
  • Excuse me for caring and reminding families that it's wise to prepare for the risk of Brexit costing every family thousands per year.

    Brexit hasn't happened yet, so don't write off expert warnings and predictions, in what is one of the most risky gambles we will experience in our lifetimes.

    I researched every prediction that I could find from every source about the cost to households. I wanted to make my own mind up in an unbiased way.

    Every forecast available fell within the range in this report by the Centre for Economic Performance from London School of Economics, of Brexit costing between £850 and £6400 per year.

    http://cep.lse.ac.uk/pubs/download/brexit02.pdf

    MSE families would be wise to hope for the best, that it only costs £850, and prepare for the worst, that it may cost a lot more.
  • I think you will find he has been misquoted, what he actually said was that '£4300 per family cost of brexit is absolute b*ll*cks' ......

    ....or something like that
  • I've seen the tweets myself. At various points he has said these were "bargain basement" prices and "an absolute bargain".

    One tweeter asked how she was meant to afford Brexit when she hadn't had a payrise in eight years. His reply was: "Ask yourself why you haven't had a payrise in eight years."

    Another time he said that voters were, "More concerned with their country than house prices."

    In other words, he implicitly acknowledges that Brexit will cost money or harm house prices.
  • pogofish
    pogofish Posts: 10,853 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Excuse me for caring and reminding families that it's wise to prepare for the risk of Brexit costing every family thousands per year.

    But this is the Mothers board - nd you posted much the same on the Fathers board too - So which are you?

    There are much more relevant boards here to post this on that don't imply a familial connection!
  • larochelleuk
    larochelleuk Posts: 119 Forumite
    Part of the Furniture Combo Breaker
    edited 15 February 2017 at 1:23AM
    The MSE site is structured to distinguish between 'mothers' and 'fathers' but this is relevant to both. The topic affects the country for all UK households and cuts across a ton of issues.

    I believe it's important that people tempted to dismiss this issue as boring politics understand how it might affect them. A YouGov poll found that only 4% of Leave voters expect it to cost money, so there's considerable grounds to worry that millions of people will end up in financial difficulty completely unprepared. Many friends are altering their life decisions to improve their resilience to the situation.
  • pogofish
    pogofish Posts: 10,853 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Only if there is a familial relationship - If its a matter of economics, then there are several other appropriate fora to discuss this old news.

    So how about clarifying your claimed relationship to Banks or getting a board guide to shift the discussion to somewhere sensible..?
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