BBC Question Time: Economist Reckons His Envelope Calculation Says Leave The EU. Audience Loves It

"If we leave the EU we'll be able to repay the national debt."
|

A BBC Question Time audience member brought down the house down after coming up with his own calculation on the positive impact of "Brexit" - on the back of an envelope.

The self-styled economist took pro-EU panelists to task after they claimed no serious thinkers were in support of leaving the European Union.

This week, the Treasury produced a report claiming each family would lose £4,300 if the June 23 referendum saw the UK vote to leave the EU.

The analysis was condemned by Eurosceptics as spurious, with one Tory MP suggest the workings lacked credibility.

One guy knew exactly what he thought: "I did some maths on the back of an envelope as well. I should say I'm an economist and a financial adviser. And I took the £10 billion of net savings we would make if we left Europe and I multiplied these by 14, which is the number of years up to 2030.

Open Image Modal
BBC

"I then used the economic credit multiplier, because of course you have the benefit of spending that money, the taxes raised on it, some economic growth and so on. And do you know the figure I came up with?

"The figure I came up with was £1.5 trillion, which means if we leave the EU we'll be able to fund and repay the national debt by the time 2030 comes."

His economic takedown won support of the founder of Wetherspoon's, Tim Martin, and panelist and keen Leave campaigner, who punched the air.

Some watching loved it.

Others not so much.

This week's edition of the programme came from Exeter.  It also featured Tory MP Liam Fox, Labour MP Kate Hoey, the Liberal Democrat's Lord Ashdown, and Plaid Cymru leader, Leanne Wood.

Before You Go

The Best of HuffPost political photoshops
Mili-bae in Ibiza(01 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Osborne's 'hipster tax' was totally Mexico(02 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
David Cameron enjoys a cheeky Nandos(03 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Pocket square(04 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Not that kind of pie!(05 of34)
Open Image Modal
(credit:.)
Boris the 'Vicky Pollard of politics'. A Brexit joke(06 of34)
Open Image Modal
(credit:.)
He was a skater boy(07 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Danny's alternative Budget exposed(08 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Dr 'Evil' Vince Cable(09 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Osborne puts his back in to it(10 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Osborne ruffled. Amirite?(11 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Ed Mili-phwoar!(12 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
That stance(13 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
The 'zombie' government(14 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Cameron breaks the internet(15 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Ed Miliband saves the internet(16 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Miliman!(17 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
This. Is. Pre-distribution!(18 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Cameron's new exercise regime revealed(19 of34)
Open Image Modal
(credit:.)
Osborne's financial package(20 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Clegg's beef with Balls(21 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
You won't like him when he's angry(22 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
No idea why(23 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Nick Robinson responds to his critics(24 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Breaking bard(25 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Super-Cam(26 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
After some lame Back to the Future jokes(27 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Guess who's back?(28 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
David Grinch-er(29 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Gove has an aversion to quiche(30 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Abba gold(31 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Muscles goes to Brussels(32 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
Ed-dark(33 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)
The name's Farage(34 of34)
Open Image Modal
(credit:The Huffington Post UK @HuffPostUKpics)