Q: If Britain was to call a referendum on its membership of the European Union, would this affect your economic outlook?

John Van Reenen, Centre for Economic Performance at the London School of Economics and Political Science
The referendum will have a negative impact on UK economic performance. If Britain voted to leave Europe we have calculated that the trade consequences alone could lead to a loss of GDP (over the long-run) of similar order to that witnessed during the financial crisis of 2008-2009. In addition, there will be a loss of FDI and skilled migration that will further depress growth, wages and jobs. So it would be an unwise move. Even if Britain ultimately voted against leaving, the uncertainty the referendum will generate between now and 2017 will also reduce growth as companies will choose to wait and see how things develop before planning expansions and investment

Sir Christopher Pissarides, Regius Professor of Economics, LSE and Associate of the Macro Programme at the Centre for Economic Performance
Yes. The uncertainty that it will create will unsettle investment and will have a negative impact on the economy. The sooner a government proclaims that we are in and will remain in, period, the better it will be for the economy.

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