OECD study finds Britons will be paying a heavy “Brexit tax” for many years if UK leaves EU

English: The logo of the Organisation for Economic Co-operation and Development (OECD). (Photo credit: Wikipedia)

Here’s a must read story, picked up by the global media. Read the original and the research. OECD specializes in quality data and research on economy including economic outlooks, analysis and forecasts, country surveys, monetary and financial issues, public finance and fiscal policy and productivity. Now OECD confirms that a UK exit from the EU would immediately hit confidence and raise uncertainty which would result in GDP being 3% lower by 2020, which equates to £ 2200 per household. The OECD states that such costs are already piling up in a new study released today.

Source: OECD study finds Britons will be paying a heavy “Brexit tax” for many years if UK leaves EU – OECD

Let make a few observations.

Firstly, the OECD conclusions are not surprising or different from other research studies. What is significant is that the OECD is adding its weight with its own research.

Secondly, the OECD cost of £ 2200 per household is widely trailed by major newspapers today.

Thirdly and critically, Nigel Farage could not cite one major economic study to support Brexit.

Fourthly, there aren’t any credible economic projections and risk reviews of alternative Brexit scenarios because the numbers don’t stack up.

Fifthly, the Brexit case is solely argued promoting fear of increased immigration. According to the Economist, immigration would stay either way because of skill shortages in the UK – for example, with junior NHS doctors on strike, think about foreign doctors and nurses propping up the NHS.