Arron Banks: £4,300 loss is price worth paying for Brexit

Posted On: 
18th April 2016

A high-profile Brexit supporter has been attacked after he claimed a £4,300 loss for every UK household was a "bargain basement price" for leaving the EU.

Arron Banks has suggested losing £4,300 per household after Brexit is a small price to pay
Credit: 
PA Images

Arron Banks spoke out after a Treasury report claimed Brexit would leave the UK some £36bn worse off than if voters opted to remain in the bloc.

The hotly-contested figures were based on an assumption the country will negotiate a Canada-style trade agreement to sell goods to the rest of the EU.

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George Osborne suggested income tax would have to rise by 8p in the pound to plug the black hole.

But Ukip donor Mr Banks, who backs the Leave.EU campaign group, said: "Their flimsy report hasn't even successfully produced the sort of nightmare vision which George Osborne wants to sell us.

"Their worst-case scenario of £4,300 per household is a bargain basement price for the restoration of national independence and safe, secure borders."

Labour MP Chuka Umunna said the Leave campaign "should be ashamed of themselves".

He said: "Today is the day that the mask of the Leave campaigns have slipped. They are seriously arguing that a £4,300 a household hit to the economy is 'slightly less' and a 'bargain basement price' to pay for their obsession with leaving the EU.

"Millions of working families will be horrified that the Leave campaigns believe pursuit of an ideological agenda is worth sacrificing their jobs, livelihoods and living standards."