Morgan Stanley apologise for Project Fear propaganda

Morgan Stanley has followed the Bank of England's lead and apologised for getting it wrong over Brexit.

The disgraced American bank claimed that a Brexit vote would see itself and other banks pulling out of the UK. One of their employees who heads the British Bankers Association was caught out making false claims about banks having firm plans to leave the UK before the end of last year when the banks in question called him out as a liar. The bank made some of the most pessimistic predictions for Project Fear.

So that's two major players in Project Fear admitting they were wrong. Who's going to be next? The BBC? The Guardian? An MP?

Bank of England issues mea culpa over Brexit propaganda

The Bank of England has admitted getting Brexit predictions wrong with their chief economist saying that criticism of economists who predicted global economic apocalypse was a "fair cop".

Andy Haldane told a meeting at the Institute for Government that there is a "disconnect" between what economists predicted and what's actually happened. He compared their performance to weatherman Michael Fish famously dismissing predictions of a hurricane in England shortly before one actually happened.

The unexpected mea culpa from one of Project Fear's most high profile allies comes as the FTSE 100 once again finished at a record high, unemployment remained at record lows, house prices are on the rise and the UK was announced as the fastest growing advanced economy in the world this year.