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Brexit vote: one month away the recession warnings keep coming

economy

Brexit vote: one month away the recession warnings keep coming

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Exactly one month before the referendum on whether Britain stays in the European Union the warnings kept on coming from Prime Minister David Cameron and his finance minister George Osborne.

On Monday they talked up a just released report from the finance ministry which warned that leaving will mean recession, a huge drop in the value of the pound, and massive job losses.

Cameron said: “The shock to our economy after leaving Europe would tip the country into recession. This could be for the first time in history a recession brought on ourselves.”

Osborne said a vote to leave would risk the gains made since the economic crisis: “Within two years at least half a million jobs would be lost. And that’s the lower end of the estimates – across Britain as many as 820,000 jobs could be lost.”

Responding, the Vote Leave campaign called the finance ministry report “categorically unfair and biased” adding that the Treasury had consistently produced flawed reports.

Leading Brexit campaigner and former London mayor Boris Johnson criticised Britain’s EU contributions: “Why are we sending 10 billion pounds a year net to Brussels? Some of which is spent on Spanish bullfighting. Do you think that the British tax payers should be supporting Spanish bullfighting? Absolutely not.”

The crowd responded with cheers.

According to some opinion polls, what will happen to Britain’s economy is growing in importance as an issue for voters.

Those polls show neither side with a commanding lead.

See also: Brexit – the key claims analysed

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