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| Osborne, Balls and Cable join forces to warn against EU exit | Osborne, Balls and Cable join forces to warn against EU exit |
| (35 minutes later) | |
| Chancellor George Osborne has joined forces with former political foes Ed Balls and Vince Cable to warn it would be a "huge mistake" to leave the EU. | Chancellor George Osborne has joined forces with former political foes Ed Balls and Vince Cable to warn it would be a "huge mistake" to leave the EU. |
| Mr Osborne said ex-shadow chancellor Mr Balls and ex-business secretary Mr Cable - billed as surprise guests - had their political differences. | Mr Osborne said ex-shadow chancellor Mr Balls and ex-business secretary Mr Cable - billed as surprise guests - had their political differences. |
| But he said they were coming together to argue that it would be a "huge mistake" for Britain to leave the EU and the single market. | But he said they were coming together to argue that it would be a "huge mistake" for Britain to leave the EU and the single market. |
| The in-out vote takes place on 23 June. | The in-out vote takes place on 23 June. |
| Follow the latest developments on our live page | |
| In a speech at Stansted Airport, after an introduction from Ryanair boss Michael O'Leary, Mr Osborne said: "There is a reason the three of us are standing here today putting aside our political differences." | |
| "It's not a conspiracy, it's called a consensus," he said, saying the economic argument is "beyond doubt". | "It's not a conspiracy, it's called a consensus," he said, saying the economic argument is "beyond doubt". |
| "Britain will be worse off if we leave the EU... Leaving the EU is a one-way ticket to a poorer Britain," he said. | |
| Mr Osborne was speaking alongside Mr Balls - once described by David Cameron as "the most annoying person in modern politics" - and former coalition partner Vince Cable - both of whom lost their seats at the 2015 general election. | |
| Standing in front of a Ryanair plane which carried the words that Britain is "stronger, safer and better off in Europe", Mr Osborne warned that leaving the single market - in which there are no tariffs, quotas or taxes on trade and where is free movement of goods, services, capital and people - would cost Britain £200bn in a trade a year - as well as £200bn overseas investment. | |
| That would mean fewer jobs, lower incomes and higher prices in the shops, he added. | |
| Meanwhile, Ryanair chief executive Mr O'Leary warned that if Britain left the EU the company could cut the amount it invests in the country. | |
| He said the airline would open a new European training centre at Stansted Airport, creating about 450 new jobs in Britain as part of the $1.4bn it invests in the UK. | |
| But he warned: "If Britain isn't a member of the EU these investments, these jobs will be going to other countries. That's why Ryanair is campaigning so strongly for Britain to remain in the EU." | |
| And he said airfares and the costs of holidays would rise, adding: "That's not speculation, that's a certainty." |