(VOVworld) - The Treasury has published its analysis of possible impacts on the UK economy in the event of a vote to leave the EU in June’s referendum. Chancellor of the Exchequer George Osborn warns that leaving the EU means the UK will face barriers to access the 500 million EU consumers.
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| British chancellor of the exchequer George Osborne and environment secretary Liz Truss presenting a 200-page treasury report on the financial impact of Brexit. Photo: AFP |
The British government would lose 36 billion pound in net tax receipts and has to renegotiate a free trade agreement with the EU. He said Britain would trade less, do less business, and receive less investment. British families would pay a heavy price and would be poorer if the UK left the EU, Osborn said.
Andrea Leadsom, the energy minister, said Osborn’s analysis was unfair and biased, and argued that the government ought to provide both sides of the story if it wanted Britons to have a truly free vote.