UK Treasury chief says leaving EU would make country poorer

Staff Writer
Columbus CEO

LONDON (AP) — British Treasury chief George Osborne says the country would be "permanently poorer" if it votes to leave the European Union in a June 23 referendum.

Osborne says in an interview with the BBC that every household in the country stands to lose to the tune of 4,300 pounds ($6,100) and that's "a fact everyone should think about as they consider how to vote."

The comments are based on a 200-page analysis of the long-term costs and benefits of EU membership and its alternatives that the Treasury will publish Monday. The report concludes that all possible alternatives to British membership would lead to a less interconnected and open economy.

Writing in The Times, Osborne says leaving the EU would amount to a "self-inflicted wound."