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30 May

Most market analysts say Brexit will hurt economy: survey

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Nine out of 10 of Britain's top market analysts working in London's City money related area, little business and the scholarly world trust the economy will be hurt if Britain leaves the European Union, a survey said on Sunday. 
 
The opinion, which the Observer daily paper said was the greatest of its kind drawing reactions from more than 600 market analysts, is a support for Prime Minister David Cameron, who is driving the crusade for Britain to stay in the 28-part coalition at a submission on June 23 in spite of resistance from some in his gathering. 
 
The survey found that 88 percent of those asked said a way out from the EU and the single business sector would undoubtedly harm Britain's development prospects throughout the following five years and 82 percent said there would likely be a negative effect on family unit earnings.
 
Those surveyed were members of the profession's most respected representative bodies, the Royal Economic Society and the Society of Business Economists.
 
Campaigners on both sides of the argument have targeted the economy as one of the main battle grounds to win round voters who are split in what is becoming an increasingly bitter fight over Britain's future.
 
"Out" campaigners say Britain would be freed from regulation and red tape if it left the European Union, able to negotiate its own trade deals without having to please 27 other countries.
 
Matthew Elliott, chief executive of Vote Leave, accused economists of making "the same hollow arguments" they made to support switching to the euro.
 
"There was a cosy consensus among economists supporting Britain scrapping the pound 15 years ago ... They were wrong then and they are wrong now," he said in a statement.
 
But the "In" campaign has pressed its argument that Britain would suffer an economic downturn if it left, hurting the pound, jobs and wages.
 
Cameron said in a statement: "This poll confirms the overwhelming view of economists - leaving the EU would damage our economy, costing jobs and increasing prices."
 
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