- OECD: Britain’s exit from the European Union (‘Brexit’) would be like a tax for Britain
Market news
27 April 2016
OECD: Britain’s exit from the European Union (‘Brexit’) would be like a tax for Britain
The Organisation for Economic Co-operation and Development (OECD) said on Wednesday that Britain's exit from the European Union ('Brexit') would be like a tax for Britain.
"Leaving Europe would impose a Brexit tax on generations to come. Instead of funding public services, this tax would be a pure deadweight loss, with no economic benefit," OECD Secretary-General Angel Gurría said.
The referendum on Britain's membership in the European Union (EU) will take place on June 23.
Brexit could cost households £3,200 per year by 2030, the OECD said.
According to the OECD, the U.K. GDP would be more than 3% by 2020 and more than 5% lower by 2030 if Britain leaves the EU.
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