Economic Threat of Brexit is Being ‘Exaggerated’, Says Former Bank of England Chief

by Peter Spence, Economics Correspondent

Former Bank of England Governor Mervyn King has said that the economic costs of Britain leaving the European Union have been “exaggerated”, as he accused those on both sides of the forthcoming EU referendum debate of treating it like a “public relations campaign”.

“One should be very cautious of precise, numerical estimates of what the consequences would be,” Mr King warned in an interview with Bloomberg, in a reference to Government analysis published this week.

The Treasury’s report estimated that the British economy would be 6pc smaller by 2030 if Britons voted to leave the EU on June 23, than if the country were to remain a member.

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