Brexit will be a ‘hard landing’ SHOULD THEY STAY OR SHOULD THEY GO?
Recent polls indicated that those campaigning for Britain to leave the EU, or a Brexit, were now in the lead, reported Reuters. Britain will vote on leaving the EU on 23 June. The Bank of England previously said that if a Brexit vote was successful, it could result in a recession in that country.
According to Reuters, a telephone poll by polling firm ICM indicated that 45% of respondents now favoured leaving the EU, while 42% said they’d prefer to stay in the bloc, with the rest undecided. In an online poll by the same company, 47% favoured leaving the EU, with 44% saying they would vote to stay. A week earlier, the same poll came out at 45% for either option.
After the results of the poll were published on 31 May, the FTSE 100 index was down 0.6%, following three months of gains, and the pound was down 1.1% against the US dollar, to an eight-day low, reported Reuters.
On 1 June, the Organisation for Economic Co-operation and Development (OECD), warned that a Brexit could pose a threat to the global economy as big as a “hard landing” in China, reported theguardian.com.
In a statement, the OECD said that by 2030, post-Brexit UK’s GDP would be 5% lower than if it remained in the EU.
Former mayor of London, Boris Johnson, a supporter of the Vote Leave campaign, during a rally held in Northern England in April.