Telford Accountants DE Ball keep you updated about the latest in the Brexit debate and the arguments for and against a potential exit of the EU.

Brittan exiting the European Union could well seriously damage the global economy’s growth according to G7 summit leaders in Japan this week. Germany and France’s respective ‘big wigs’ Andrea Merkel and Francois Hollande both insisted that the issue had not arisen, however PM David Cameron claims ‘one or two people had discussed it’ and we should ‘listen to our friends’ and vote to remain.

The impending potential Brexit was not formally on the agenda at the two-day summit in Japan. However contained in the 32-page declaration G7 leaders explained “A UK exit from the EU would reverse the trend towards greater global trade and investment, and the jobs they create, and is a further serious risk to growth.” The Brexit was listed alongside geopolitical conflicts, terrorism and refugee flows as a potential shock of a “non-economic origin”.

Telford Accountants DE Ball update you on the potential impending Brexit

This of course follows on from bold comments made from the International Monetary Fund (IBF) that there were “no economic positives to Britain leaving the EU”. The Bank of England argues that the Brexit essentially would “sharply slow our economy” and even cause a potential dip back into recession.

The organisation for Economic Co-Operation and Development has also warned of a potential ‘Brexit Tax’ that British voters could suffer from which would equate to approximately a months average salary by 2020. Some Brexit advocates will see it as ironic hilarity they can do nothing about it but G7 leaders can do little else but hope now by the time the 23rd of June comes around and the votes are in.

“We should listen to our friends, we should listen to people who want us to do well, who wish well of us in the world. When you are faced by a difficult decision, it is often a good thing to listen to what your friends think.”

– PM David Cameron, 2016 G7 Summit, Japan.

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