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.
Detractors say that a prediction out as far as 2030 can be disputed, and that the Treasury hasn’t always made accurate forecasts in the past.
There’s a vote on E.U. membership scheduled for June 23.
More Must-Reads From TIME
- Essay: The Tyre Nichols Videos Demand Solemnity, Not Sensationalism
- For People With Disabilities, Losing Abortion Access Can Be a Matter of Life or Death
- Inside the Stealth Efforts to Smuggle Starlink Internet Into Iran
- Natasha Lyonne on Poker Face and Creating Characters Who Subvert Leading-Lady Tropes
- How to Help the Victims and Community After the Monterey Park Shooting
- Why Grocery Staples Are So Expensive Right Now
- Quantum Computers Could Solve Countless Problems—and Create a Lot of New Ones
- Where to Watch All of the 2023 Oscar Nominees
- How to Be Mindful if You Hate Meditating