Another day, another warning about the economic bombshell which would follow Brexit. This time it’s the turn of the IMF. In a press conference at the Treasury, Christine Lagarde spoke of the outcome of a vote to leave the EU ranging from ‘bad to very bad’. Whilst the IMF’s report said:
‘A vote to leave the EU would create uncertainty about the nature of the UK’s long-term economic relationship with the EU and the rest of the world. A vote for exit would precipitate a protracted period of heightened uncertainty, leading to financial market volatility and a hit to output.’
George Osborne was clearly grateful for the support of the IMF in the severity of their warning against Brexit. The Chancellor went on to echo Lagarde’s comments, talking of sharp drops in house prices and slating the leave campaign’s suggestion that Brexit would mean more cash for public services in Britain.
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