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UK Membership of EU

HM Treasury written question – answered on 4th March 2016.

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Photo of Steve Rotheram Steve Rotheram Labour, Liverpool, Walton

To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the potential effect on the economy of the UK leaving the EU.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

As the Chancellor has said, a UK exit from the EU would be a long, costly and messy divorce. The finance Ministers and central bank governors of the G20 concluded at the weekend that a British exit would cause an economic shock not just to the UK but to Europe and the world. What people are asking for in this referendum campaign is a serious, sober and principled assessment from the Government setting out the facts. The Treasury will publish a comprehensive analysis of our membership of a reformed EU and the alternatives, including the long-term economic costs and benefits of EU membership and the risks associated with an exit before 23 June.

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