The hit to the U.K. economy from leaving the European Union (EU) that has been forecast by bodies ranging from the International Monetary Fund to the Bank of England is "rotten propaganda," a former U.K. finance minister and member of the Brexit camp told CNBC on Tuesday.
Norman Lamont is a veteran of the U.K.'s ruling center-right Conservative Party and among those leading the campaign to persuade Britons to vote to leave the EU in June 23's referendum. This week, he poured scorn on the flurry of well-respected economic bodies and economists that have warned in recent weeks about the dangers of a so-called Brexit.
Those raising concerns include U.K. Chancellor of the Exchequer George Osborne, Bank of England Governor Mark Carney, the U.K.'s National Institute of Economic and Social Research, the Organisation for Economic Co-operation and Development (OECD) and the International Monetary Fund.
Lamont told CNBC that the various bodies were suffering from "groupthink."
"We've got a whole series — OECD, IMF, Bank of England, the (U.K.) Treasury — they are more or less the same people who talk to each other all the time. There is a lot of groupthink here. It doesn't mean they are right," he said on Tuesday.