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Brexit shock will cause severe unemployment, recession: UK Treasury

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The Treasury had previously projected poor economic performance in the long term, but the latest analysis forecasts "economic shock scenarios" in the event of Brexit.

London

WITHIN weeks of an exit from the European Union (EU), the British economy would slide into an inflationary recession with unemployment rising by at least 500,000, the UK Treasury has predicted.

Previously the Treasury projected poor economic performance in the long term, but

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