Director Of The Institute For Fiscal Studies: There Is No Brexit Dividend

17 June 2018, 09:44 | Updated: 17 June 2018, 10:50

The Director of the Institute for Fiscal Studies says that to suggest Brexit will make the UK better off economically "is just wrong."

The director of the Institute for Fiscal Studies, Paul Johnson, says that the extra money promised for the NHS can not be funded by a Brexit dividend.

The Prime Minister said the UK will be able to spend "around £600 million a week" more on the NHS by 2024, with plans to use the money originally promised would be made available as a result of leaving the European Union.

Theresa May told Tom Swarbrick the spending plan will be closely watched to make sure it is "money well spent."

But while "it is a reasonable amount of money," Paul Johnson said: "In the long run, the only way for higher public spending is higher taxes - I mean that's fairly obvious."

The director told Tom: "What I think is quite disappointing about this announcement, is this nonsense about it coming from a Brexit dividend.

"There literally isn't one."

Mr Johnson also said that to suggest Brexit makes us better off economically "is just wrong."