UK Economy Faces Permanent Hit with Brexit – Osborne

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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