by Nadeem Walayat
Market Oracle
The Treasury (UK government) is to issue a statement today that basically puts the price of Brexit at 3.6% of GDP or £64 billion, resulting in a 1 year recession (much milder than the last), which is set against a large chunk of the euro-zone having been in economic depression for 6 long years.
Leaving the European Union would tip the UK into a year-long recession and lower Britain’s economic growth by 3.6%.
Though the margin of error is probably at least 3% that effectively could completely cancel out the Treasury forecast.