Britain’s two most powerful politicians warned on Monday that a vote to leave the European Union in a month’s time could push the country into a year-long recession and cost at least half a million jobs.
With Britain taking its most important strategic decision in decades on June 23, Prime Minister David Cameron and finance minister George Osborne made a fresh series of warnings of how households would be hit by a vote to leave the EU, ranging from a fall in the value of their homes to costlier foreign holidays.
“It would be a DIY recession,” Cameron said, adding leaving the EU move would jeopardise the efforts made by the country to recover from economic hardship caused by the world financial crisis.
“It would be like surviving a fall and then running straight back to the cliff edge. It is the self-destruct option,” he said.