A British vote to leave the European Union could cost the economy 100 billion pounds ($145 billion) and 950,000 jobs by 2020, according to research commissioned by employers' group the Confederation of British Industry (CBI), Reuters reported. The CBI said "Brexit" would deliver a serious shock to the British economy, regardless of any trade deals the country could negotiate with its former European partners. "This analysis shows very clearly why leaving the European Union would be a real blow for living standards, jobs and growth," CBI Director-General Carolyn Fairbairn said in a statement on Monday. "The savings from reduced EU budget contributions and regulation are greatly outweighed by the negative impact on trade and investment. Even in the best case this would cause a serious shock to the UK economy." The CBI, which has said it will promote the economic case for Britain to remain in the EU, has been criticised by anti-EU campaigners who say the business community is split on the issue.
