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IMF: Brexit hit to UK could be 'pretty bad to very, very bad'

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.

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Vote Leave minister dismisses IMF's Brexit warning

Priti Patel said the IMF's assessment could not be taken at 'face value'. Credit: ITV News

Pro-Brexit government minister Priti Patel has dismissed the IMF's warning that leaving the EU could have a "negative and substantial effect" on the UK's economy.

The Conservative MP told ITV News: "I don't think we can take their forecast at face value because of their background and also on the basis that our economy is successful right now."

"I believe that if we vote to leave the European Union, Britain has a brighter, more secure and more prosperous future," she added.

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