Quote:
Originally Posted by Bircho
No need to misquote unless you have to. He actually said GDP could potentially fall by 6.2% which would mean the Government would lose £36bn in tax receipts - the equivalent of £4,300 per household (or 8p in the basic rate of Income Tax or 7p VAT).
That would be based on the Canada model that some people are advocating. As I mentioned in an earlier post (before George Osbourne) that would be because under this model we would not be able to trade services with EU.
If this is wrong, please tell me why - rather than just saying he is talking rubbish please explain why this is.
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He said it would rise by 6.2% less than predicted under their model if we remain, and that the government would hence receive less tax than forecast. They would not lose any tax receipts, the receipts would grow less quickly.
You're welcome.
EDIT: It should also be noted the model excluded the impact of lower budget contributions, if any, potential positive impact of deregulation within the UK, and impact of free trade outside the EU.
Again, you're very welcome.