Mr Cameron admitted Brexit has not turned out as badly as he first feared after losing the historic EU referendum in 2016 in a video from the World Economic Forum (WEF) in Davos.
Mr Cameron, former Chancellor George Osborne and Bank of England chief Mark Carney led the Project Fear rally in the build-up to the vote to leave the EU, pumping scaremongering stories that Britain’s economy would be seriously damaged.
The former Conservative Party prime minister insisted at the time that leaving the EU would be catastrophic for the British economy.
But footage from 5 news showed Mr Cameron, speaking about Brexit in the corridors of WEF, changing his mind on the consequence of voting to leave the EU.
He said: “It’s frustrating. As I keep saying, it’s a mistake, not a disaster.
“It’s turned out less badly than we first thought.
“But it is still going to be difficult.”
The former prime minister was speaking with Lakshmi Mittal, the chairman of a steel company, who said “everyone is speaking about Brexit”.
Commenting on the viral video of the exchange on Twitter, Mr Farage rinsed Mr Cameron for his shock Brexit admission, simply writing “Busted”.
A flurry of Mr Farage’s fans backed him in the comments section, with one smugly joking: “Got to thank Dave for giving us the opportunity to leave EU”.
Helen Deakin said: “Maybe it’s now time Remainers stopped bleating and accepted the fact we’re leaving the EU, like it or not.”
Steve Friedman said: “Turns out most pundits are wrong more than we thought.”
Alastair Campbell, who is campaigning to reverse the result of the referendum, admitted that Project Fear failed in the lead up to the vote in June 2016.
He said to Mr Farage on LBC: ““I think it did. I think what happened was that David Cameron in a sense fought the last campaign, it was the same as the Scottish referendum campaign, the same as his election campaign against Ed Miliband.
“There was no kind of hope, there was no positive message about remaining”