| Author (Corporate) | BBC |
|---|---|
| Series Title | BBC News |
| Series Details | 15.06.16 |
| Publication Date | 15/06/2016 |
| Content Type | News |
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United Kingdom Chancellor of the Exchequer George Osborne and former Chancellor Alistair Darling came together on the 15 June 2016 to warn that an emergency Budget involving tens of billions of pounds of spending cuts and tax rises would be necessary to plug a black hole in the public finances if the UK voted to leave the EU on the 23 June 2016. Sharing a platform for the first time, Mr Osborne and Mr Darling set out the £30bn of spending cuts and tax rises that would be needed to preserve the public finances in the event of a vote to leave the EU. This was based on Institute for Fiscal Studies research showing that the economic damage caused by British exit from the EU would cause a black hole in the public finances of between £20bn and £40bn. They come together to give this warning at a visit to Hitachi Rail Europe’s depot in Ashford, Kent. 57 Conservative MPs rejected George Osborne’s suggested emergency budget as ‘absurd’ and criticised his suggestion that he would threaten to ‘renege on so many manifesto pledges’. They warned: ‘If he were to proceed with these proposals, the Chancellor’s position would become untenable.’ |
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| Source Link | http://www.bbc.co.uk/news/uk-politics-eu-referendum-36534192 |
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| Countries / Regions | United Kingdom |
