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Cameron says cost of holidays to rise if UK leaves EU
May 24, 2016 / 6:21 AM / a year ago

Cameron says cost of holidays to rise if UK leaves EU

LONDON (Reuters) - The cost of a family holiday to Europe could rise by up to 230 pounds if Britons vote to leave the European Union next month, the prime minister said on Tuesday in the latest in a string of warnings of the impact of Brexit on family finances.

People enjoy the warm autumn weather temperatures on a beach in the Calanques National park near Marseille November 1, 2015. REUTERS/Jean-Paul Pelissier

The Treasury said on Monday that a “leave” vote could cause an immediate drop in the value of the pound by 12 percent, resulting in higher costs for food and drink and accommodation for families travelling overseas.

Analysis showed that on average, after two years, a four-person family would spend 230 pounds more during an eight-night holiday in Europe after Brexit, the prime minister said.

“All the evidence points to the value of the pound falling after a vote to leave the EU,” Cameron said on Tuesday.

”A weaker pound means people’s hard-earned savings won’t go as far on holidays overseas.

“The choice facing the British people on 23 June is increasingly clear: the certainty and economic security of remaining in the EU, or a leap in the dark that would raise prices - including the cost of a family holiday.”

Cameron said on Monday that a vote for Brexit could cause a recession, a tumble in the value of the pound and the loss of half a million jobs.

The campaign for Britain to leave the EU said the finance ministry report was biased because it provided nothing on the upside of leaving the bloc, nor on the potential negative consequences of a crisis in the euro zone.

Reporting by Paul Sandle; Editing by Jonathan Oatis

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