Britain more prosperous 'IN':
The Telegraph
21 June 2016
We are economists who care about Britain and its future. We feel compelled to speak out on the risks of Leaving and opportunities from Remaining in the EU. If Britain votes to Leave we believe that:
• A recession causing job losses will become significantly more likely due to the shock and uncertainty of Brexit. With interest rates near zero and debt still high, the Bank of England and Government would have limited ability to prevent such a recession.
• A drop in the pound and increased tariffs on imports will cause the costs of everyday goods to go up increasing inflation.
• Investment in the UK will drop harming innovation and future job growth.
• These impacts will fall most heavily on households with middle and low incomes.
• Less growth means less government revenue which means higher taxes and less to spend on services like the NHS.
Leave will say these points are 'Project Fear'. We say they are 'Project Reality'.
This open letter was published by The Telegraph on June 21, 2016
Link to the letter here
Related links
Holger Breinlich webpage
Richard Layard webpage
Stephen Machin webpage
Sandra McNally webpage
John Van Reenen webpage
Education and Skills Programme webpage
Growth Programme webpage
Labour Markets Programme webpage
Trade Programme webpage
Wellbeing Programme webpage