EU exit could add two years to austerity, IFS says

[perfectmoneywallet]

The UK could face an extra two years of austerity measures if it votes to leave the EU, the Institute for Fiscal Studies has said.
The consensus of economists was that the UK economy would shrink after an EU exit, the think tank said.
It warned ministers could react to a post-Brexit GDP fall with either deeper cuts, or by extending them.
But UKIP leader Nigel Farage said the IFS was biased because it was part-funded by the EU.

He told BBC News: "They take direct funding from the European Union.
"So, once again, it's the same old game. It's taxpayers money being used to tell us what we should think and what we should do. And frankly the scale of this now is outrageous.
"The government and all their friends - taxpayer-funded friends - are frankly cheating in this referendum by selling this constant negative message."
IFS director Paul Johnson told BBC Radio 4's Today programme, his organisation got "about 10% of our income from something called the European Research Council, which is an independent arms-length body which funds world-class academic research".
But he added: "For the last 30 years, the IFS has really built its reputation on the independence and integrity of our work, and actually there is no sum of money from anywhere in the world which would influence what we said".
'Further austerity'
Prime Minister David Cameron said the IFS was the "the gold standard in independent, impartial economic forecasting and commentary in our country".
The IFS assessment comes as a dozen former senior military officers have warned that the EU's policies are undermining the UK's combat effectiveness.
Speaking out in favour of Britain leaving the EU, they said Nato, and not the EU, should remain the cornerstone of Europe's defence.
More than 300 historians, meanwhile, have written to The Guardian saying Britain has an "irreplaceable role to play in Europe" and warning against "condemning ourselves to irrelevance" by leaving.
The IFS said a vote to leave could result in a £20bn to £40bn hit to the public finances in 2019/20, if GDP was 2.1% to 3.5% lower over the period, as predicted by the National Institute of Economic and Social Research (NIESR).
Paul Johnson, IFS director and an author of the report, said: "Getting to budget balance from there, as the government desires, would require an additional year or two of austerity at current rates of spending cuts."

http://www.bbc.com/news/uk-politics-eu-referendum-36371700

[Lethn]

I really hope they keep scare mongering like this because the remain voters will likely stop taking them seriously, I'm definitely voting out and I hope the majority are with me otherwise this country is going to turn into an even bigger shithole than it already is if the EU can do whatever they want.

[alyssa85]

LOL They seem to be getting desperate. Their arguments would have more weight if so many economies in the eurozone weren't struggling under severe austerity and recession.

[popcorn1]

IFS..shame they never predicted the 2008 crash which cost the tax payer billions and billions to bail the banks out..
And after bailing the banks out they give them selves a bonus and the poor tax payer found it very very hard to get a loan after bailing these money suckers out..
If we stay the 1% of the rich will own our butts they will hold us to ransom in the future..
which country is selling what and what rules to implement to make it harder for a certain countries economy to do things..

Asda you pay them to put your product on there shelves if it get displayed on the front or back depends on how much your willing to pay the more you pay the more chance being displayed on the front shelf..
Now imagine if you don't pay the EU you will be put on the back shelf for trade what you can sell and how much..
Also if you don't pay anything to the EU you will get nothing no trade your country collapses..
We are getting held to ransom
UK and some other countries can afford to pay the EU there ransom but some cannot afford too like Greece..
And just like the ASDA aka WALMART..What if small businesses cannot afford to pay ASAD to get on there shelf it's going to be tuff for our future children to become a big business in the future..
So all these big business players will have there blood lines future sorted out when our children will find it hard to just live..
IF WE STAY WE WILL PAY..
Also we can trade to 500 million ..Why not trade to 7 billion Who said we cannot do this?
Who is the chief BIG BUSINESS OR THE PEOPLE

OUT THE EU    OUT THE EU..
We can build a better Britain

[xht]

Even if there was two more years of austerity, which I doubt, the two years is nothing compared to decades or a forever being in the most corrupt and wasteful club on the planet.

[Racey]

If the UK residents have any common sense, they will know all about the lies the government Cameron and cohorts have told in the past.

I am voting out.

IFS has never got a prediction right, whats the difference now?

Brexit will make us richer. That's why Leave could still win

http://www.telegraph.co.uk/business/2016/05/25/brexit-will-make-us-richer-thats-why-leave-could-still-win/

[catch.me.if.you.can]

EU is permanent austerity.

[bryant.coleman]

I am not much surprised. The Brexit referendum is just a few weeks away. We will see more of these scare-mongering tactics, as the date approaches. The establishment never thought that the referendum will be this close. The latest opinion poll from BMG Research has 45% favoring the Brexit, while 44% are opposing it. Too close to call.

[Nemo1024]

LOL They seem to be getting desperate. Their arguments would have more weight if so many economies in the eurozone weren't struggling under severe austerity and recession.

Remembering back to the rigged Scottish referendum, the main argument of the "together forever" was that if Scotland voted no, it would have difficult time getting back into EU. 

I've visited Scotland a few weeks ago. Everywhere there are indications of how Scots are displease with being in GB. One example of many: A cab driver somewhat bitterly apologised to me for not being able to return the change in Scottish money as the English are crowding in and dropping their currency everywhere...

[popcorn1]

Some people don't believe that the EU tells nations on the shape of there fruit and veg..
Well let me tell you this THEY DO...I will tell you why they do this..

If a farmer grows patatoes and the patatoes have to be a certain size and a certain shape how much of his crop will he have if he has to produce that certain shape and certain size..
Maybe less than half his crop..So the rest gets destroyed if not up to EU standards because its not the right size or shape..

Now imagine a little farmer and he only owns a small amount of land if less than half his crop in not the right size or shape then he got no chance of getting his put on the shelf because he not producing
enough..So the little land owner producer got no chance..Plus it drives the price up of the fruit and veg
because of the shape and size..Because if you could put any shape fruit or veg on the market there be more of it driving the price down..And who care what shape it is when it get cut up or eating as it is..
But we all care how much we pay..
And also like i always said it's big businesses who will hold us to ransom..
Like the fruit and veg it's going to be big land owners who will get all the business of the fruit and veg
But this is just 1 industry farming..

The massive companies will own our butts and you can forget your children's futures because they will be paying so much to just eat and put a roof over there heads..

Also if the EU so good why France kicking off ?
Also what if other countries decide to leave after we decide to stay ?
Also what about immigration our school children are getting kids from other countries and our kids in school are not getting a proper education because they trying to learn other kids how to speak English from other countries instead of teaching our children about science and so on..

And last point IS THE EURO doing good?

WE WILL BE RUN BY BIG COMPANIES IF WE STAY..
It's not the peoples vote that will matter it will be big business dictating our lives..

HOW MANY COMPANIES COLLAPSE ?

Also Britain we will get most immigration because most people speak ENGLISH
All over the world they learn english in there schools..

Now us Brits who have lived here for hundreds of years get threw on the shit pile..

We get told the EU protects workers right..So why they not protecting Frances workers right?

[popcorn1]

Green peace are as thick as shit..THEY WANT TO STAY IN THE EU
We get told that if we leave the EU flights will go up meaning less people flying.. Well less rich kids because the poor go to BUTLINS for a holiday..So if that means less flying it means less POLLUTION

DUMB ASSES..So green peace shut up..

[alyssa85]

I am not much surprised. The Brexit referendum is just a few weeks away. We will see more of these scare-mongering tactics, as the date approaches. The establishment never thought that the referendum will be this close. The latest opinion poll from BMG Research has 45% favoring the Brexit, while 44% are opposing it. Too close to call.

From what I've gathered from talking to people, a lot of the "don't knows" will actually vote Leave. They just don't want to declare their vote outside of the polling station because they don't want to get into arguments about it.