Dutch to be hit hard by any Brexit: official

[THE HAGUE] The Netherlands will be hit hard if Britain leaves the EU, a Dutch government think tank warned Thursday, predicting a possible 1.2 per cent fall in GDP by 2030 and a 10 billion euros (S$15.4 billion) trade loss.

"If the United Kingdom (UK) withdraws from the European Union it will affect the Netherlands more severely than other EU countries because of the strong trade relations," the economic policy Central Planning Bureau said.

The drop in trade "could amount to a GDP loss for the Netherlands of 1.2 per cent, or 10 billion euros, by 2030".

And the effects could be even further heightened by less innovation which "could amplify the GDP loss of 10 billion euros by another 65 per cent."

Britons will go to the polls on June 23 to vote in a bitterly divisive referendum on whether to leave the European Union, or remain part of the 28-nation bloc.

The Dutch warning follows similar predictions that the Netherlands, which lies just across the busy North Sea shipping lanes from Britain, could suffer the greatest fallout from a Brexit.

"If the UK were to withdraw from the EU, this would be followed by a period of uncertainty which would lead to direct economic losses," the think tank, which advises the Dutch government, said.

AFP