UK would lose at least 500,000 jobs after vote - Osborne

May 23, 2016 11:38 AM

Osborne was speaking as the finance ministry published a new report on the short-term implications of an "Out" vote.

UK would lose at least 500,000 jobs after Brexit vote - Osborne

Britain would lose at least half a million jobs within two years of a vote to leave the European Union and a fall in the value of the pound would push up inflation sharply, finance minister George Osborne said on Monday.

Recommended articles

With a month to go until Britain holds its European Union membership referendum, Osborne said workers' earnings, when adjusted for inflation, would be almost 3 percent lower in two years' time, equivalent to a pay cut worth almost 800 pounds a year for someone working full time on the average wage.

Ben Bassey

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!