British Finance Minister George Osborne warns a vote to leave the European Union would bring permanent damage to the country's economy and could cost each household 4,300 pounds a year by 2030.

Osborne, writing in The Times newspaper, says a decision to leave the EU would be quote "an extraordinary self-inflicted wound" which would damage trade and investment. Osborne also warns Brexit could weaken the West at a time when it is facing threats to its security and values. The UK government is due to present a report on Monday on the long-term economic impact of the Brexit.