EU in/out referendum: Labour wants Bank of England to publish the costs of Brexit
The Bank of England and the Office for Budget Responsibility (OBR) should publish an assessment of the economic impact of Britain leaving the European Union at least 10 weeks before an in/out referendum, the Labour party has said.
Labour backed the EU referendum bill at its second reading on Tuesday, but it is understood that party members are submitting a new amendment requiring the economic impact report.
Shadow foreign secretary Hilary Benn said yesterday it is “vital” that a “thorough assessment” is carried out.
“The Bank of England and the Office for Budget Responsibility are independent bodies that have a mandate to look at the economy and public finances, and they would be best placed to carry out this work,” Benn said.
“The British public deserve to be fully informed about how any alternative arrangements with Europe might work in practice and about any risks to jobs and apprenticeships, economic growth and our ability to attract foreign investment into businesses in Britain,” he added.