UK Chancellor of the Exchequer George Osborne says he will have to slash public spending and increase taxes in an emergency Budget to tackle a £30bn black hole if the UK votes to leave the European Union. The chancellor will say this could include raising income and inheritance taxes and cutting the NHS budget.
UK exit from the European Union would be “a disaster” that would risk creating “an economic and social rift” between Gibraltar and the neighbouring region in Spain, the Cross-Frontier Group said in a report published by the Gibraltar Chronicle. The group’s president, Ángel Serrano, warned that Brexit posed a serious risk to employment and investment on both sides of the border.
German Finance Minister Wolfgang Schaeuble warned Friday that if Britain voted to leave the European Union, it wouldn't have access to the single market like non-members Norway and Switzerland do.
United Stated Federal Reserve chair Janet Yellen said a UK vote to leave the European Union could have significant economic repercussions. In a speech this week, she said a Brexit was one factor that the central bank would consider when deciding whether to raise interest rates. The Fed next meets on 14-15 June.
Former foreign secretary William Hague said that if Britain votes to leave the European Union, the Falkland Islands sovereignty could be put at risk, while Gibraltar would left in a very difficult position. The statement was published this week by The Telegraph in an article under the heading: Brexit would put the Falkland Islands' sovereignty at risk
The European Union has suffered a “double dip” collapse in favorability in many member states since 2010, with many citizens across Europe demanding it return powers to them, according to research. A report from the Pew Research Center published Tuesday found that the British, who will vote on their future in the bloc on June 23, are not the only country with doubts about the EU.
Angela Merkel broke her silence during the referendum campaign to warn that Britain would find itself isolated and weakened in trade talks outside the European Union. The German chancellor, who has not commented since David Cameron named the referendum date in February, said that a place at the bargaining table for the single market and international trade deals were reasons for Britain to remain in the EU on June 23.
The campaign for Britain to leave the European Union has taken a 4-5 percentage point lead ahead of a June 23 referendum, according to online polls by ICM and YouGov, sending sterling towards three-week lows against the U.S. dollar.
Campaigners wanting Britain to leave the European Union warned that immigration has “spun out of control”, as the new mayor of London launched his campaign for the country to stay in the bloc. Four weeks before the so-called Brexit referendum on June 23, the Office for National Statistics published data putting net migration - the difference between those arriving and leaving Britain - at 333,000 last year.
Britain would face grueling negotiations to set the terms of its World Trade Organization membership if it decided to leave the European Union, the group's chief warned in Thursday's Financial Times.