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Osborne: 'Independent bodies should look at BHS'

George Osborne has insisted "independent bodies" should investigate the situation at BHS, and would not be drawn on whether its billionaire ex-boss has questions to answer.

"I don't think as the country's Chancellor of the Exchequer, I should judge what has gone on in a company, before the independent bodies we have created have done that work," the chancellor told ITV News.

Mr Osborne was speaking to our Business Editor Joel Hills.

Osborne's Brexit costs: do the figures add up?

Video report by ITV News Business Editor Joel Hills.

George Osborne has warned that every family will lose thousands as a result of a vote to leave the EU - but where do those figures come from and do the calculations make sense?

In every scenario envisaged by the report, trade, investment and national productivity all fall as a result of a Brexit.

Professor Anand Menon, from UK in Changing Europe, said that the government had tended to look at the "worse case scenario".

"It is biased in the sense that it doesn't show a range of possible outcomes," he said.

But although the government's analysis may be pessimistic, it is not unique in it's gloomy outlook.

The majority of reports into a possible Brexit have found that the most likely outcome will be negative economically.

Osborne warns that Brexit will cost £4,300 per household

Video report by ITV News Deputy Political Editor Chris Ship.

George Osborne has today produced figures suggesting that every family could be thousands of pounds worse off outside of the EU.

The data, backed by the treasury research team, suggests that a vote to leave could cost £4,300 per household every year by 2030.

Under any alternative we'd trade less, we'd do less business, there would be less investment and the price would be paid by British families - wages would be lower, prices would be higher.

– George Osborne

The figures were based on a trade deal with the EU similar to the one struck by Canada - and which has been praised by pro-Brexit rebel Boris Johnson.

The London Mayor was among those who dismissed the chancellor's figures as unreliable and incorrect.

"We've got a great future ahead of us," he said in response.

Remain in EU, says National Farmers' Union

Credit: Reuters

The National Farmers' Union (NFU) has voted that farmers' interests are best served by remaining in the EU.

A resolution passed by the organisation's council said the decision was made "on the balance of existing evidence available to us at present".

Meurig Raymond, president of the NFU, said a survey of members suggests 20% support Brexit, while 35% to 50% support remaining within the EU. The rest have not made up their minds.

The NFU, which represents farmers across England and Wales, said it would not tell its 55,000 members how to vote in the June 23 referendum, and will not be actively campaigning.

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