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Pro-Brexit Tories warn Osborne over emergency 'punishment' budget

Furious pro-Brexit Tories have warned they will block any attempt by George Osborne to impose an emergency "punishment" Budget if there is a vote to leave the European Union - with one backbencher calling on him to resign now.

Fifty-seven Conservative MPs have signed a statement warning that the Chancellor's position would be "untenable" if he tries to push through tax cuts aimed at filling a £30 billion "black hole" in the public finances which ministers say would emerge if Britain pulled out of the EU.

But a defiant Mr Osborne insisted he would have no choice but to act to prevent "chaos" in the public finances and "huge" economic instability.

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Darling slams 'flimsy and fraudulent' Leave campaign

Former Chancellor of the Exchequer Alistair Darling. Credit: ITV News

Alistair Darling has slammed the Leave campaign for creating a "flimsy and fraudulent" manifesto.

Speaking at a Remain event in Ashford, he said: "The Leave campaign has no idea no plan whatsoever. Any political party seeking an election on such a flimsy and fraudulent prospectus would've been torn to bits right now.

"We do know we will have years and years of uncertainty. Why on earth would we want to inflict that on ourselves all over again?"

Mr Darling quoted from Roberto Azevêdo,the head of the World Trade Organisation, who said it will take a decade to negotiate trade agreements and insisted "Britain's economy will be smaller and Britain's families will be poorer".

Making reference to the emergency budget that he was launching, he added: "There would not be one emergency budget, but one after another".

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Pro-Brexit Tories warn Osborne over emergency 'punishment' budget

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