The
economic challenge of the Brexit, following plummeting exports, rising prices
and a possible recession, could mean funding for the NHS, schools and defence
would be reduced. To compensate for such, the Government would be forced to
take about £4300 families per year as the entire country adjusts.
This
Monday, BoE Chancellor George Osborne would publish a landmark Treasury report
that would warn Britain about the economic perils of a Brexit.
Voting to
leave, the report would say, would mean "permanent" economic damages
leaving Britain in a poorer economic state "for decades to come."
Speculations
include a 6 per cent shrunk economy by 2030.
Meanwhile,
Vote Leave and Eurosceptic Minister Chris Grayling said the document is only
spurring "doom and gloom" from the treasury.
However,
Osborne said Vote Leave campaigners are "economically-illiterate" and
"not being honest".
The
chancellor pointed out that the poorest people in Britain would have trouble
with the economic shock of the exit.
He said the
UK's negotiating hand outside the EU is far different from its reach when
backed by the European Union. About 44 per cent of UK exports head to EU
countries. About 8 per cent of EU's imports head to the United Kingdom.
