UK Economy Faces Permanent Hit with Brexit – Osborne

April 18, 2016 Share Print 0

Chancellor George Osborne said a vote to leave the European Union in a referendum in June would do permanent damage to the country’s economy, which he warned would be 6 percent smaller by 2030 than if it stayed in the bloc.

The government is due to present on Monday a “serious, sober analysis” of the long-term economic impact of a so-called Brexit, a source familiar with the document said.

Osborne was quoted as saying the loss to the economy would be the equivalent to each household of 4,300 pounds ($6,100) a year by 2030.

Reuters

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.