Osborne Seeks ‘Remain’ Momentum With Post-Brexit Budget Warning

June 15, 2016 10:24 AM

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Osborne Seeks ‘Remain’ Momentum With Post-Brexit Budget Warning

The campaign to keep the U.K. in the European Union is seeking to regain momentum with a warning from Chancellor of the Exchequer George Osborne that a vote to leave could create a fiscal crisis, requiring an emergency austerity budget.

In a speech outside London Wednesday, Osborne will warn of a 30-billion-pound ($43 billion) “black hole” in public finances that would open due to reduced trade and investment, necessitating sharp spending cuts in health, education and defense as well as tax increases. He is due to speak after five ...

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