The cost of Brexit

The Guardian reports:

George Osborne has said the British government would lose £36bn in net tax receipts, equivalent to 8p on the basic rate of income tax or 7p on VAT, if the UK leaves the EU and negotiates a bilateral trade agreement with the bloc.

The chancellor said a 200-page Treasury analysis of the impact of Brexit showed it would make British families poorer, and he accused leave campaigners of believing that was a price worth paying. But out campaigners said that the chancellor was talking down the British economy in an unpatriotic way.

The study concluded that a Canadian-style model, in which the UK negotiated a new trade deal with the EU that did not require freedom of movement, would reduce Britain’s GDP by 6.2%.

The Bremain campaign seems to be campaigning entirely on scaring people from Brexit, rather than the positive benefits of the EU. I’m not sure it is a good strategy.

Another group, Grassroots Out, argued that the £4,300 figure amounted to 21p a person a day in return for national sovereignty.

A good line.