REUTERS
Leaving the European Union would cause a serious shock to the UK economy that could lead to 950,000 job losses and leave the average household GBP 3,700 worse off by 2020, a report commissioned by the CBI business lobby group has warned, according to The Guardian.
In a stark warning, an analysis conducted by accountancy firm PricewaterhouseCoopers for the CBI said that Brexit could cost the UK economy GBP 100 billion – the equivalent of 5% of GDP – by 2020 and would cause long-lasting economic damage from which it would never recover, The Guardian wrote.
Household incomes could be between GBP 2,100 and GBP 3,700 lower if Britain voted to leave the EU, while the UK's unemployment rate, currently one of the lowest in the EU at 5.1%, would be between 2 and 3 percentage points higher, with 950,000 jobs potentially lost.