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Theresa May has been reported to the Advertising Standards Authority for claiming her NHS funding pledge would be partly paid for with a “Brexit dividend”.

Deputy Labour leader Tom Watson has demanded the ASA take action over the claim, which he said was “at best misleading and at worst a complete myth”.

The Prime Minister insisted the NHS will receive an additional £20 billion a year in real terms funding by 2024, meaning a weekly increase of £384 million in real terms, and £600 million a week in cash terms compared with now.

And a graphic published by the Number 10 Twitter account proudly announces (in large, bold letters) that it will be paid for by the “BREXIT DIVIDEND.”

In non-bold letters, it adds: “with us as a country contributing a bit more.”

Institute for Fiscal Studies (IFS) director Paul Johnson says the dividend doesn't exist.

He says the UK faces a steep exit bill, much of the money that would have gone to the EU has already been promised elsewhere, and the Office for Budget Responsibility has calculated public finances will be £15 billion a year worse off due to Brexit.

Mr Johnson told the BBC yesterday: “You add to that the commitment the Governments already made to keep funding farmers and so on, there is literally arithmetically no money, and in addition we know, because the Governments accepted this, that the public finances will be worse as a result of the Brexit vote.

(Image: REX/Shutterstock)

In his letter to the ASA, Mr Watson noted government advertising is regulated by the Advertising Codes, according to Politics Home.

He added: “The thread of graphics posted by the UK Prime Minister Twitter account was an ad campaign promoting the Government’s policy to millions of followers. The website goes on to say ‘the ASA will intervene if an ad by a public body crosses the line, whether that’s through being harmful, offensive or misleading… government departments, local authorities and other public bodies should also ensure that their ads are not misleading and that objective claims are supported by robust evidence”