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Osborne: Brexit will leave Britain permanently poorer

Quitting the European Union would leave households £4,300 a year worse off, George Osborne warned as he prepared to release in-depth Treasury analysis on the cost of Brexit.

Britain's economy would shrink by 6% by 2030 if the country replicated Canada's trading agreements as advocated by Boris Johnson, according to the Chancellor.

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LIVE: Osborne speaks on 'cost to UK families' of Brexit

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Chancellor George Osborne and other ministers are speaking on the economic consequences to the UK of pulling out of the EU.

Their comments come ahead of the release of Treasury report that warns British families could eventually be £4,300 a year worse off if the UK models its relationship with Brussels on a Canadian-style trade agreement.

Speaking alongside Osborne are Liz Truss, the environment secretary, and Stephen Crabb, the work and pensions secretary.

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