UK Treasury: House prices will plummet if Britain leaves EU

May 21, 2016 9:38 AM

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LONDON – Britain's Treasury says house prices could fall by up to 18 percent if the country leaves the European Union — a claim dismissed as scaremongering by campaigners for a U.K. exit from the bloc.

Treasury chief George Osborne says leaving the EU would be a "profound economic shock."

Also read: Feuds and fault-lines loom in UK-EU showdown over Brexit

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