GETTY George Osborne championed the Treasury's report on a Brexit

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Speaking exclusively to Express.co.uk, Professor Patrick Minford blasted the Treasury's "flawed" report, which essentially assumes Brexit would be reverse and erode all the economic progress made since joining the European Union in the 1970s.



The Professor of Economics at Cardiff University said: "[The Treasury has] argued that when we joined the EU there was more trade and Foreign Direct Investment and that means it was due to being in the EU, and we'd lose it if we left the EU.



"And that's obviously nonsense because the situation today is quite different from the historical statistics that they have for the past."

He added: "If we leave the EU, we'll become more successful, become more productive, because our better industries will gain traction, people will become more competitive because consumer prices will come down. So the economy will become better and the FDI will still come in, it will go to different industries."



The economist said the Treasury's economic rationale to stay in the EU is equivalent to wagging a dog's tail to make it happy, because they have seen that a dog wags its tail when its happy.



He said: "That's not the way to the run the economy."



Professor Minford was an advisor to the Treasury between 1993 and 1996, is founder of the Liverpool Research Group, and is one of eight 'Economists for Brexit', a group which is making the economic case for leaving the European Union.



The economy expert today launched a full critique explaining why the Treasury's report, which forecast over the long-term families will be left worse off from a Brexit, is "a load of complete nonsense".

He said: "There's absolutely no reason to believe any of the stuff in the Treasury report, it's completely riddled and raddled with basic problems of logic."



Professor Minford added: "[The report] is just a load of statistics, it tries to blind us with science - Mr Osborne's very proud of it - it's kind of dishonest and condescending, it treats us like fools, it aims to terrify us."

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