British Treasury estimates losses in case of their EU exit

The report, being published by Chancellor George Osborne later, is likely to spark controversy

Baku. 18 April. REPORT.AZ/ Britain's national income could be 6% smaller by 2030 if the UK leaves the European Union.

Report informs citing BBC, this was stated in a major report by the Treasury.

The 200-page report says the size of the cut in gross domestic product would be the equivalent of about £4,300 a year for every household.

Trade barriers will be higher - hitting exports - and investment will be lower both within the UK and from abroad after an EU exit, the report argues.

Vote Leave dismissed it as "erroneous".

Many believe that businesses will move at least part of their operations to the continent of Europe to be within the EU single market.

Borrowing costs for the government could also rise as investors demand higher repayments for supporting the UK's debts as the economy weakens.

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