Britain leaving the EU could have a "negative and substantial effect" on the UK's economic growth, the International Monetary Fund has said.
"A vote for exit would precipitate a protracted period of heightened uncertainty, leading to financial market volatility and a hit to output," the IMF said in a report published on Friday.
The International Monetary Fund (IMF) has made it clear that a vote to leave the European Union will "cost us money", the Chancellor has said.
George Osborne said the IMF had set out how the prospect of leaving was already having an impact on investment and hiring.
"But, the fund are also clear that this could be a mere taste of things to come if we vote to leave," he added.
His comments come in respond to the IMF's warning that a Brexit could lead to sharp drops in equity, increased house prices, and higher borrowing costs.
It follows the Bank of England's warning on Thursday that Britain leaving the EU could "materially" lower UK growth.
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