Voting to quit the European Union would be “disastrous” for the UK economy, a leading economist has warned.
Vicky Pryce, who was speaking at a conference in London this week, warned that pulling out of the 28-nation bloc would have grave consequences for Britain.
Ms Pryce is originally from Greece, a country whose own membership of the EU was thrown into considerable doubt last year.
In 2016 however, international attention will be shifting to Britain, with a long-discussed in/out referendum widely expected to take place this summer.
Ms Pryce believes that cutting the supply of migrant labour from the continent would inevitably have a ruinous effect on economic growth.
“There is a lot of confusion in people’s minds as to what it [a no vote] will mean,” she said.
“I’m afraid it will mean a completely new relationship with Europe, an unknown relationship with Europe.
“Migration, as the government’s own independent advisers will tell you, is going to be the backbone of the economy and a driver for growth.
“We need that otherwise our debt levels will be high, and our deficit will be high. That tends to be forgotten in discussions about the referendum.”
This week, Prime Minister David Cameron confirmed that he would be giving his cabinet ministers the freedom to campaign for either leaving or remaining part of the EU.
While the majority are expected to support continuing membership, the decision to suspend collective responsibility – mirroring the tactics used by Harold Wilson 40 years ago – is regarded by some commentators as a mistake.
