UK Treasury warns country will be much poorer with Brexit

London

UK Chancellor of the Exchequer George Osborne said that a UK Treasury analysis showed that the UK would be "permanently poorer" if the nation left the European Union.

The 200-page Treasury document, written by government economists, estimates that Brexit would cause a fall in investment, trade and growth so that by 2030, the UK economy would be 6 per cent smaller than it would have been as an EU member.