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April 2016

UK would be 'permanently poorer' outside EU - George Osborne

Published: Monday 18 April 2016

George Osborne stated this morning that the UK would be ‘permanently poorer’ outside the EU. According to Mr. Osborne, "The Treasury analysis shows that under all plausible alternatives to British membership of the EU, we would have a less open interconnected economy - not just with Europe but, crucially, with the rest of the world.” Treasury analysis further suggests an EU exit could see the UK economy 6% smaller than it would otherwise be by 2030 and £4,300 a year worse off for every household. He stated that “under any alternative Britain would trade less, do less business, there would be less investment and the price would be paid by British families.”
Meanwhile in the US, FED President William Dudley whilst speaking in New York said that that the U.S. labor market had improved and that the central bank would gradually normalizes interest rates. He expressed confidence that inflation will rise to 2% in the next couple of years and acknowledged a significant improvement in labor market conditions. Dudley also said that monetary policy adjustment is to be gradual and cautious and said that Europe economic outlook has started to improve.
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