'Brexit could dent UK export'

As both the Vote Leave and Vote EU parties have upped their campaign impact in the wake of the upcoming Brexit vote, the UK Treasury's has claimed leaving the UK could cost each household 4,300 pounds per year.

This figure confirms the current government department's analysis into the impact of the UK leaving the European Union, meaning Britain's national income could be six per cent smaller by 2030.

Without the EU trade barriers will be higher - which will harm UK exports - and investment will be reduced both from companies within the UK and from abroad after an EU exit, the 200-page report will argue.

Chancellor George Osborne has written an opinion piece saying the Treasury's "rigorous analysis" had demonstrated that "Britain would be worse off, permanently so".

"It is a well-established doctrine of economic thought that greater openness and interconnectedness boosts the productive potential of our economy," he wrote. "In other words, the more we trade and invest, the richer we become.

"That's because being an open economy increases competition between our companies, making them more efficient in the face of consumer choice, and creates incentives for business to innovate and to adopt new technologies.

"All this leads to better jobs, higher living standards and lower prices for British people."