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  1. ITV Report

Chancellor warns of 'economic shock' if the UK leaves the EU

In just ten days the UK will vote on whether to remain or leave the European Union.

Today (14 June), the Chancellor has warned that if we leave the EU there will be a profound economic shock, which would see tens of thousands of jobs at risk.

Leave the European Union and face another recession. That's the stark warning from the Chancellor. Credit: ITV News

George Osborne made the announcement during a visit to Renishaw in Stroud, where he also said leaving the EU would cause house prices to fall.

But the campaign to leave has accused the Chancellor of scaremongering.

Team Brexit have accused the remain camp of creating scare stories. Credit: ITV News
Credit: ITV News

The Chancellor was visiting an engineering firm in Woodchester, as part of the campaign for Britain to remain in Europe.

The Gloucestershire firm has declared its support for staying in the EU. On the day trip Mr Osborne warned against the risks of a Brexit on companies such as Renishaw. But those on team Brexit have accused the remain camp of creating scare stories, which lack credibility.

Stroud MP Neil Carmichael joined the Chancellor for a tour of the factory.

Credit: ITV News

The Chancellor says vote to leave and it's a leap into the dark with economic uncertainty. But others say it's a leap for freedom from EU control.

Either way a decision will soon be made.