British Prime Minister and campaigner David Cameron along with Finance Minister and BoE Chancellor George Osborne said that Britain should stay in the European Union as households would face the largest shortfall in the value of their homes.
It would also mean costly foreign holidays for voting for an EU exit.
Opinion polls showed that Britons are leaning towards an “in” decision and it could jeopardise Britain’s economic recovery.
“It would be like surviving a fall and then running straight back to the cliff edge. It is the self-destruct option,” Cameron said.
Brexit campaigners said the UK Treasury supporting the Prime Minister’s campaign had produced flawed and inconsistent reports.
According to former Thatcher Administration Conservative Prime Minister Nigel Lawson, the EU stay campaigners said they are assuming a disaster and has spelled out the details.
The former Prime Minister said:
“What they’ve done is they assumed a disaster and then spelled out the details,” Nigel Lawson, a finance minister under the late Conservative Prime Minister Margaret Thatcher in the 1980s, told BBC TV.
“They’ve done this in order to scare the pants off the British people because they can’t find anything positive to say about the European Union.”