UK's home prices to drop significantly from Brexit: Osborne
-
British Chancellor of the Exchequer George Osborne speaks at the British Chambers of Commerce conference in London on March 3, 2016. (AFP photo)
The Head of the British Treasury, George Osborne, says if UK voters decided to leave the European Union (EU) in a referendum in June, it would be "catastrophic" for jobs and homeowners would face a "significant hit" from lower house prices.
"This isn't just a big question about who we are as a country. This goes to the heart of people's financial security," Osborne, the Chancellor of the Exchequer, said in an interview on ITV television on Sunday.
"I am pretty clear that there will be a significant hit to the value of people's homes and to the cost of mortgages. That is one example of the kind of impact, economic impact, that we get from leaving the EU," he said.
Osborne has led the UK government's argument that leaving the EU would cost people money.
UK Justice Secretary Michael Gove, a leading voice in the "Vote Leave" campaign, told the BBC that Britain should leave the single market, but keep British access to it, and criticized "the rules that the European Court of Justice imposes on us".
Opinion polls have indicated that UK voters believe staying in the EU would be best for Britain's economy, but that support for leaving and remaining still remains at a virtual tie.
ME
