The Times looks at some claim about trade and jobs. And they seem to have fallen foul of a corollary of Muphry’s Law. Perhaps we might call it Worstall’s Corollary to Muphry’s Law: any piece of fact checking will contain an error even more glaring and nonsensical than the original claim being fact checked.
last year Britain exported goods and services worth £3.4bn to the EU, and imported £3.5bn – out of total global trade of £14bn.
Quite where they’ve got these numbers from I’m not sure but my best guess is that they’ve come from here.
But they’ve managed to use the monthly figures for the trade balance instead of what they claim they’re using, which is total annual trade.
Just to put this in context. They’re claiming that total trade is 0.1% of the UK’s GDP of £1.4 trillion. Whereas it’s somewhere in the 50-60% range.
And that 3.4 and 3.5 add up to the £6.9 billion which was the total trade deficit in one recent month.
I think we can put this down as a fail, don’t you?
Although I will admit to a certain joy at quite such a glorious exposition of Worstall’s Corollary to Muphry’s Law.
(And yes, there’s bound to be an error in this post.)