Economics experts have blasted key assumptions underpinning the Brexit campaign’s financial arguments in favour of leaving the EU.
The report by the London School of Economics and Political Science’s Centre for Economic Performance (CEP) has been seized on by the Remain campaign to back their warnings that exiting the EU is too dangerous.
The study attacks pro-Brexit predictions by claiming they fail to grasp basic facts regarding trade and finance and rely on outdated modelling systems.
Pro-Brexit economists were accused by CEP’s Thomas Sampson of “using an approach that does such violence to basic facts of economic life”.
Labour MP and leading Remain campaigner Chris Leslie said: “Attempting to get economic evidence out of Vote Leave has been akin to drawing blood from a stone.
The only claims they could muster have been comprehensively destroyed by highly respected economists.
“The economic case for remaining in Europe is now closed. It’s clear that all the experts agree that working people across the country would pay the price if we leave, through the risk of recession, increased unemployment and households would be worse off by £4,300 each.”