October 26, 2016

Osborne uses budget speech to appeal for UK to stay in EU

Britain’s Chancellor of the Exchequer Osborne holds up his budget case for the cameras as he stands outside number 11 Downing Street before delivering his budget in London

British finance minister George Osborne used his annual budget speech on Wednesday to issue a heartfelt appeal to the country not to vote to leave the European Union.

“I believe we should not put at risk all the hard work that the British people have done to make our country strong again,” he told parliament.

Osborne also directly quoted the independent Office for Budget Responsibility (OBR) which produces the government’s economic forecasts, to back up his case.

Osborne quoted the OBR as saying “a vote to leave in the forthcoming referendum could usher in an extended period of uncertainty regarding the precise terms of the UK’s future relationship with the EU.

“This could have negative implications for activity via business and consumer confidence and might result in greater volatility in financial and other asset markets.”

Osborne and Prime Minister David Cameron have staked their political reputations on campaigning for Britain to vote to remain in the 28-member European Union in the referendum on June 23.

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