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.
The shock to our economy after leaving Europe would tip the country into recession
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.”
With— David Cameron (@David_Cameron) May 23, 2016
George_Osborne</a> at <a href="https://twitter.com/BandQ">BandQ as Treasury analysis shows leaving EU would trigger recession and cost 500,000 jobs. pic.twitter.com/4A1ADb5tpU
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.”
In Eastleigh with
David_Cameron</a> to set out impact on economy if UK left EU: an immediate & profound economic shock <a href="https://t.co/ODt1wSU4Bg">pic.twitter.com/ODt1wSU4Bg</a></p>— George Osborne (George_Osborne) 23 mai 2016
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.
Fantastic to be in beautiful York earlier today – one month until Brexit
vote_leave</a> <a href="https://t.co/HGCLyYVkeD">pic.twitter.com/HGCLyYVkeD</a></p>— Boris Johnson (BorisJohnson) May 23, 2016
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