Project Fear is becoming ridiculous.
The Times reports:
Leaving the European Union would immediately cause the value of the pound to plummet by as much as 20 per cent, while income tax would have to rise to counter cuts in migration, a respected think tank has warned.
A vote to leave would result in a “significant shock to the UK economy”, the non-partisan National Institute for Economic and Social Research has said, as it presented prospects for the UK up to 2030 in the event of Brexit.
The think tank looked at trading scenarios that the UK might face following a vote to leave the EU, including models in which Britain had the same deal as Switzerland or Norway. Yet in every model analysed, wages, household consumption and trade suffered.
Seven plagues next ...
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