May 25, 2016

Brexit could add two years to austerity according to Institute for Fiscal Studies (“IFS”)

The consensus of economists was that the UK economy would shrink after an EU exit, the think tank said.

It warned ministers could react to a post-Brexit GDP fall with either deeper cuts, or by extending them.

But UKIP leader Nigel Farage said the IFS was biased because it was part-funded by the EU.

Prime Minister David Cameron said the IFS was the “the gold standard in independent, impartial economic forecasting and commentary in our country”.