21:00 GMT +317 October 2019
Listen Live
    City of London

    Brexit to Cost Every UK Household $6,000 per Year – Head of Treasury

    © Flickr/ Gabriel Calderón
    Get short URL

    Britain’s exit from the European Union would cost each household 4,300 pounds ($6,000) per year and would negatively affect the British economy, UK Chancellor of the Exchequer George Osborne said in an article.

    MOSCOW (Sputnik) — LONDON (Sputnik) – Osborne’s column for The Times magazine, published Sunday, comes as the Treasury is due to reveal its calculations in a 200-page report assessing the potential long-term costs and benefits of the country’s EU membership on Monday.

    "The conclusion is clear: for Britain's economy and for families, leaving the EU would be the most extraordinary self-inflicted wound," Osborne said in the article.

    According to the chancellor, Brexit would result in Britain becoming "permanently poorer."

    UK citizens are set to vote on June 23 in a referendum on the country's EU membership, after Prime Minister David Cameron and the leaders of the 27 European Union member states reached a deal in February to grant the United Kingdom a special status within the bloc.


    Over 50 Groups Begin Brexit Campaign in Historic Vote on EU
    UK Citizens Choose Brexit After Official ‘Leave’ Campaign Starts
    Brexit Could Damage EU, Increase Bloc’s Challenges - White House
    IMF Considers Brexit as ‘Serious Downside Risk’ for Global Growth - Lagarde
    Brexit or Fixit: What Will Scotland Do?
    Rival Brexit Groups Trade Blows Amid Rumors of Lies, 'Political Stitch-Up'
    Brexit, United Kingdom
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik