“I think it is also clear that Nicola Sturgeon picked the very highest number possible, from the Centre for Economic Performance at the London School of Economics, which is by far and away the outlier of all the other estimates.
“Most of the other estimates are somewhere between a 0.5 and 3 per cent loss in GDP but the CEP estimate is much more negative and much more extreme. It is also slightly ironic that she has picked up on the Treasury analysis as during the referendum campaign she said it was ‘overblown’.
“There is nothing new in this report, it simply extrapolates from what we have already got and it also chooses a very narrow selection. I don’t see why they couldn’t have used more reports rather than simply focus on the downside.
“If they think it is valid to extrapolate from some papers then surely its valid to extrapolate from others which suggest a more positive outcome. Just to say it will be hugely negative is very one-sided.”
Neil Mackinnon, of Economists for Brexit, said their own analysis predicted a potential 4 per cent boost to GDP by 2030 – however he urged voters to believe the evidence of their own eyes.
He said: “All that Nicola Sturgeon has done is cherry pick the news she wants to believe.