U.K. Will Be 'Poorer' if It Leaves E.U., Official Warns

Chancellor George Osborne has warned United Kingdom residents that the nation would be "permanently poorer" if it leaves the European Union.

BBC reports that a Treasury analysis found that if the U.K. exits the E.U., its economy would be 6% smaller in 2030 than if it stays.

"The conclusions could not be clearer. Britain would be permanently poorer if we left the E.U. to the tune of £4,300 for every household in the country. That's a fact everyone should think about," Osborne said.