Thinktank tells Ukip departing from EU could cost UK economy £56bn


Open Europe thinktank warns Ukip that Britain could lose 2.23% of its GDP by leaving the EU customs union and single market

Britain faces a stark choice after an EU exit of allowing its economy to shrink by £56bn, by shutting down its borders, or agreeing to the continued free movement of European citizens in a new deal with Brussels, according to a leading thinktank.

In a challenge to Nigel Farage, who believes Britain can prosper outside the EU by blocking migration, the Open Europe thinktank warns that a unilateral UK exit could lead to a permanent dent in the country’s GDP of 2.23% by 2030. This works out at £56bn a year.

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