Brexit jobs threat

Chancellor says economy will face £4.5bn hit

GEORGE Osborne will today wade into Scotland’s EU referendum battle with a dire warning of 43,000 job losses and a £4.5billion hit on the economy if voters back Brexit.

The explosive claims during his first campaign visit north of the Border will reignite fury over ‘Project Fear’ tactics in the run-up to the June 23 vote.

Mr Osborne’s intervention will come only hours after David Cameron admitted he is ‘worried’ about a second Scottish independence referendum if Britain leaves the EU, despite previously insisting there would be no rerun of the 2014 vote.

Vote Leave campaigners last night dismissed the Prime Minister’s comments as ‘utterly desperate’.

In other developments on the Scottish campaign trail:

Nationalist MP Pete Wishart claimed the ‘political Armageddon’ that will follow a Brexit vote will be the ‘biggest political crisis we’ve experienced since World War Two’;

Alex Salmond revealed he will travel to all four home nations to argue for Remain;

Ladbrokes said there is a 93 per cent chance of a Remain vote in Scotland;

Nicola Sturgeon will tonight go head-tohead with Boris Johnson in an ITV showdown, in which she will argue that ‘independence and interdependence go hand in hand’.

This week, an opinion poll revealed support for Remaining had risen to 71 per cent in Scotland. With a series of UK-wide polls suggesting the race is too close to call, Scottish votes could be crucial to the outcome.

Mr Osborne will today visit the Borders with Scottish Tory leader Ruth Davidson to warn of a ‘profound economic shock’ north of the Border if there is a Brexit vote.

He will unveil analysis claiming a Leave vote would cause unemployment in Scotland to rise by 43,000 over two years, while youth unemployment would rise by 6,000.

The impact of leaving the EU and the single market, he will claim, would be equivalent to a £4.5billion reduction in the size of the Scottish economy by 2018. The dire warnings also include a £22,000 fall in house prices.

The Chancellor will say: ‘Every credible independent voice agrees that if the UK votes to leave the EU there would be a profound economic shock that would hurt people’s jobs, livelihoods and living standards in Scotland.

‘Trade exports to the EU have created jobs in Scotland and withdrawing from the single market would have a huge impact on the economy here. It is simply not a price worth paying.’

Miss Davidson will say: ‘The big question facing us on June 23 is what is best for jobs and for family security – leaving the EU

‘A profound economic shock’

or staying part of the single market. There’s no question in my mind that staying part of the EU is the right answer. Thousands of Scottish jobs are reliant on the exports we sell within the EU. I’ll be voting to remain in order to ensure we can create thousands more over the coming years.’

On Tuesday, Mr Cameron took part in an ITV debate, which also separately featured Ukip leader Nigel Farage.

The Prime Minister said: ‘Frankly, I do worry about a second Scottish referendum if we vote to leave – and you don’t strengthen your country by leading to its break-up.’

But Scottish Vote Leave director Tom Harris said last night: ‘There won’t be another independence referendum following a vote to leave the EU for three very simple reasons: David Cameron doesn’t want it; Nicola Sturgeon doesn’t want it; but most importantly, the Scottish people don’ t want it.

‘It is utterly desperate for David Cameron to claim he’s “nervous” about another independence referendum. For him to claim he’s worried, when the facts show he can’t possibly be telling the truth, says all you need to know about his confidence in the Remain case.’

Ahead of her ITV appearance, Miss Sturgeon said: ‘I will be arguing the positive, progressive case for continued EU membership from a distinct Scottish perspective – but also outlining why I think staying in will be better for the UK as a whole.

‘I believe that countries should be independent – but in the modern world, I also passionately believe that independent countries must work together.

‘Independence and interdependence go hand in hand in the 21st century.’