By 2030, a non-EU Britain would leave families £4,300 worse off than they were inside the European Union.
According to Finance Minister George Osborne said that leaving the European Union would leave Britain permanently poorer.
Without addressing huge industries, less investment and less business would lead to inflating unemployment and lack of spending power.
Osborne pointed out the EU makes up 8 per cent of the UK’s export economy.
Several high-ranking officials said the UK also compromises its negotiating powers with the EU. The UK’s negotiating powers allows it to influence environmental troubles in other EU nations and can even reach as far off as influencing the United States or China.
“Britain would be permanently poorer if it left the European Union. Under any alternative, we’d trade less, do less business and receive less investment,” Osborne said as he homed in on what a Brexit could mean for voters and their living standards.
“The price would be paid by British families. Wages would be lower and prices would be higher.”
Vote Leave said that the UK government is beginning a “scare campaign” to urge UK citizens to stay in the EU.
According to London Mayor Boris Johnson, campaigning to leave the EU, the campaign blinds citizens of opportunities wherein the UK could create its own flexible laws to its business advantage.