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Algarve Daily News:
OECD warns of heavy cost of Brexit - FT warns of hit to Sterling

28 April 2016

A UK exit from the EU would immediately hit confidence and raise uncertainty which would result in GDP being 3% lower by 2020, which equates to GBP 2200 per household. An OECD report released this morning states that such costs are already piling up. The projected hit to living standards would amount in effect to a permanent 'Brexit tax' on households, the OECD says. Presenting the analysis in a speech at the London School of Economics, OECD Secretary-General Angel Gurria said, ''Leaving Europe would impose a Brexit tax on generations to come. Instead of funding public services, this tax would be a pure deadweight loss, with no economic benefit.''

This article was published online by Algarve Daily News on April 28, 2016
Link to article here

See also
Business World.ie
Britain would pay a 'Brexit tax' outside the EU
New Delhi Times
OECD Chief Issues New Warning of 'Tax' on Britain if It Quits EU
Polish Radio - Online
OECD: Brexit uderzylby Brytyjczykow po kieszeni

Related event
To Brexit or not to Brexit: a taxing question: Download audio file here
CEP Public Lecture, 27 April 2016
Speaker: Angel Gurria; Discussant: Dr Thomas Sampson; Chair: Professor Lord Stern

Related links
Thomas Sampson webpage
Trade Programme webpage

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