These 6 charts explain why UK households will be £4,300 worse off if Britain leaves the EU
With voting day, June 23, only 10 weeks away, the government released a 200-page report with calculations on the effect of Brexit on the UK economy.
The two key takeaways - if Britain does vote to leave the EU - from Osborne's article are:
- Britons will be £4,300 worse off a year.
- The economy will shrink by 6% by 2030.
Coupled with a report, Osborne wrote an article in the The Times with a strong warning for voters (emphasis ours):
The conclusion is clear: for Britain's economy and for families, leaving the EU would be the most extraordinary self-inflicted wound.
The Treasury analysis shows that under all plausible alternatives to British membership of the EU we would have a less open and interconnected economy - not just with Europe but, crucially, with the rest of the world.
The latter point about Britain's trade with the rest of the world is key. Here are the charts the Treasury is using to make its point.