EU referendum: Brexit ‘would spark year-long recession’ – Treasury – BBC News

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Image caption Chancellor George Osborne is anticipated to state Brexit would result in a”DIY economic downturn”

Leaving the European Union would tip the UK into a year-long economic crisis and lower Britain’s financial development by 3.6%, according to Treasury analysis.

The nation would suffer an” extensive and instant”financial shock of its own making, Chancellor George Osborne, who launched the research study, alerted.

But Vote Leave’s Iain Duncan Smith stated individuals would not think the Treasury’s “deeply prejudiced view of the future”.

It comes one month prior to the vote on Britain’s EU subscription on 23 June.

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