A British Union flag flutters in front of one of the clock faces of the 'Big Ben' clocktower of The Houses of Parliament in central London, Britain, February 22, 2016. REUTERS/Toby Melville/File Photo
EASTLEIGH, England (Reuters) – Britain would lose at least half a million jobs within two years of a vote to leave the European Union and a fall in the value of the pound would push up inflation sharply, finance minister George Osborne said on Monday.
With a month to go until Britain holds its European Union membership referendum, Osborne said workers’ earnings, when adjusted for inflation, would be almost 3 percent lower in two years’ time, equivalent to a pay cut worth almost 800 pounds a year for someone working full time on the average wage.
Osborne was speaking as the finance ministry published a new report on the short-term implications of an “Out” vote.
(Writing by William Schomberg, editing by Kate Holton)
