Topical Questions

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 19th April 2016.

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Photo of George Osborne George Osborne Chancellor of the Exchequer and First Secretary of State 12:00 am, 19th April 2016

We are having a referendum, and people are going to take different views on the prospects of the United Kingdom as we go forward, but the public want facts and information. We have set out in the analysis produced by the Treasury what we think the likely impacts on the economy will be, and this analysis has now been supported by the London School of Economics. It gives out a similar message to that provided by the Bank of England on the economic shock that would come if we leave. Then there are bodies such as the International Monetary Fund and others saying a similar thing. The weight of evidence and the weight of opinion is clear: there would be an economic price if we left the EU. Some regard that as a price worth paying, which is a perfectly respectable argument, but it is not one that I agree with.