The Brexit could damage the British economy

30.05.2016

Nine out of ten leading British economists, working in the City of London - the business and financial center of the city – activating in the small businesses and the scientific field, believe that the exit of Britain from the European Union will harm the country's economy, a poll showed on Sunday.

The poll, which, according to the Observer newspaper, was the largest study of its kind, because it involved more than 600 economists, supports the Prime Minister’s led campaign against the British exit in a referendum on June 23, despite the opposition of his fellow party members.

The survey, conducted by Ipsos-MORI, showed that 88 % of respondents said that the exit of Britain from the EU is likely to harm the country's growth prospects over the next five years, and 82 % said that such a move is likely to have a negative impact on revenues of population.

The newspaper reported that the respondents are members of the extremely respected economic organizations, the Royal Economic Society and the Society for Industrial economists.

Both campaigns have made its main argument the economy, trying to win the support of voters divided in their views as part of an increasingly bitter struggle for the future of Britain.

Supporters of the Brexit claim that the country will be free from regulation and formalities by leaving the European Union, and will be able to sign its own trade agreements without trying to please the 27 remaining countries.

"Fifteen years ago, the vast majority of economists supported the British abandonment of the pound... They were wrong then and they are wrong now," - said the head of the campaign in favor for Brexit, Matthew Elliott.

However, the Brexit opponents argue that such a move would lead to a decline in the UK economy, hurting the pound, jobs and salaries.

Cameron said: "This survey confirms the strong opinion of economists - a way out of the EU will damage our economy, the number of jobs and will raise prices."

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