A vote to leave the European Union in a referendum next week would trigger tax hikes and spending cuts, Britain's finance minister warned, as stock markets sank on the increasingly likely prospect of Brexit.
George Osborne, who is campaigning to remain within the 28-member bloc, announced on Wednesday that schools, hospitals and the army would all have their funding slashed if the pro-Brexit side prevails.
The intervention comes as polls indicate an surge in support for the "Leave" side days before the June 23 vote.
"Quitting the EU would hit investment, hurt families and harm the British economy," he said in released remarks.
"I would have a responsibility to try to restore stability to the public finances and that would mean an emergency budget where we would have to increase taxes and cut spending."...
[aljazeera.com]
15/6/16
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George Osborne, who is campaigning to remain within the 28-member bloc, announced on Wednesday that schools, hospitals and the army would all have their funding slashed if the pro-Brexit side prevails.
The intervention comes as polls indicate an surge in support for the "Leave" side days before the June 23 vote.
"Quitting the EU would hit investment, hurt families and harm the British economy," he said in released remarks.
"I would have a responsibility to try to restore stability to the public finances and that would mean an emergency budget where we would have to increase taxes and cut spending."...
[aljazeera.com]
15/6/16
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-
Related:
Surge in Brexit support causes shockwaves as EU referendum nears
British Labour leader Jeremy Corbyn will make a fresh push to persuade supporters to back keeping Britain in the EU as a new poll showed the Brexit camp in a ten-point lead...
New poll shows 55 percent of Brits favor leaving the EU
Domino Effect : German FinMin warns against Brexit
IMF warns of 'severe' economic damage from Brexit
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