George Osborne compared a British exit from the EU to a “long, costly and messy divorce” yesterday as he announced the Treasury will publish an economic analysis of the UK’s membership.
The chancellor also repeated his claim that a vote to leave in the June referendum would cause an “economic shock”, not just to the UK, but Europe and the wider world.
His comments came as former business secretary Lord Mandelson dismissed the suggestion the Remain camp is engaging, as some have suggested, in the politics of fear.
The Labour peer said Britain would be “heading in a completely unknown direction and taking an unknown route” if it voted to leave because no country had ever done so before.
Barclays also waded into the debate yesterday with claims that a Brexit would leave customers worse off.
The chairman of the banking giant, John McFarlane, said the UK and international economy was “enhanced” by Britain remaining a member of the EU.
Meanwhile, Labour leader, Jeremy Corbyn, said his agenda for the EU was the “very opposite” of that propounded by David Cameron.
The Islington North MP insisted he would never share a platform with the prime minister to campaign for a vote to retain ties with Brussels.
He said: “We are not on the same side of the argument. He wants a free market Europe.
“I want to see a Europe that is about protecting our environment and ensuring we have sustainable industries across Europe such as the steel industry and high levels of jobs and social protection across Europe.”
Speaking in the House
of Commons, Mr Osborne said the Treasury report would set out what reformed membership meant for the UK as well as what the alternatives were and the risks associated with a Brexit.
SNP deputy leader Stewart Hosie called on the chancellor to make a positive case for the EU.
He added: “The extent to which the EU has succeeded is actually quite remarkable in terms of free trade, free movement–we think it is a boon– and indeed the commensurate protections for the environment, social protection and employment rights.
“These substantial achievements of the European Union are to be celebrated, not renounced.”
Mr Osborne said he was making the “positive case that we will be stronger, safer and better off”.
But he added: “It is perfectly reasonable to point out that we do not know what the leap in the dark would entail. Of course, I want to do this in a positive way.”
Labour Eurosceptic Gisela Stuart, who is on the board of Vote Leave, said yesterday the Labour Party had failed to face up to the realities of the European project.