The NHS, schools and defence will face billions of pounds worth of cuts and householders will be £4,300 poorer a year if Britain votes to leave the European Union because of the economic impact of a Brexit, George Osborne will warn.
The Chancellor will on Monday publish landmark Treasury report which is expected to warn that a Brexit will lead to a possible recession, plummeting exports and rising prices.
It will state that the economic impact of a vote to leave the European Union in June is likely to be “permanent” and could leave Britain worse off “for decades to come” and shrink the economy by 6% by 2030.
The official analysis will deepen the war within the Tory party over Europe and lead to allegations of “scaremongering” from those campaigning for a Brexit.
Speaking ahead of the publication Chris Grayling, a eurosceptic Cabinet minister, said that he does “not accept a document of doom and gloom from the Treasury”…
Full article at The Telegraph.