The Spectator

Barometer | 21 April 2016

Also in our Barometer column: Treasury forecasts, the Queen and life expectancy, and pay at the top

issue 23 April 2016

European bogeymen

Michael Gove said ‘remain’ campaigners were spreading tales of bogeymen. But what is a bogeyman? Appropriately enough, the concept of an imagined monster is a pan-European concept which has exercised the right to free movement for centuries.
— The boggel-mann has been terrifying children in Germanic cultures since the Middle Ages, as has the bussemand in Scandinavian countries. In Dutch, he became the boeman.
— Middle English had its bugge-man and Scotland its boggarts — the latter suggesting a possible connection with marshy ground. But possibly the earliest bogeyman was bugibu, a monster in a French poem written in the 1140s.

Reversed forecasts

A Treasury report claimed that leaving the EU would leave the UK economy 6% smaller by 2030. Can the Treasury forecast GDP a year ahead, let alone 14 years ahead? Some previous efforts:

Previous year’s prediction
2008 2.5-3%
2009 4-6 mths
2010 2.25%-2.75%
2011 2.3%
Outcome
2008 -4.2%
2009 -1.3%
2010 1.8%
2011 2.1%

After that, the Treasury handed predicting growth to the OBR.

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