Yahoo Finance G7 Leaders: Brexit A 'Serious Risk' To Growth
David Cameron has received a boost in his campaign to keep Britain in the European Union after leaders at the G7 summit warned Brexit would be a "serious risk" to world growth.
The joint (NasdaqCM: JYNT - news) declaration from the leaders of the US, UK, Japan, Germany, France, Italy and Canada included a passage saying "UK exit from the EU would reverse the trend toward greater global trade, investment and the jobs they create and is a further serious risk to growth".
The statement at the end of the two-day Ise-Shima summit follows similar heavyweight interventions from the International Monetary Fund, Organisation for Economic Co-operation and Development, G7 finance ministers and previous comments from Barack Obama.
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It (Other OTC: ITGL - news) came as "purdah" rules came into force on Friday, preventing government departments from issuing pro-Remain guidance.
Shortly before the deadline, George Osborne released a Treasury report suggesting a vote to quit the EU could leave millions of pensioners up to £32,000 worse off.
The mention of Brexit in the official G7 declaration represents a victory for the PM, but German Chancellor Angela Merkel said the referendum was not discussed during formal conversations at the two-day summit.
She (Munich: SOQ.MU - news) said: "It was no subject here. But there was the signal that all who sat here want Britain to stay part of the EU."
Mr Cameron also committed the UK to halving drug-resistant bug infections by 2020 , using measures including tough limits on the inappropriate use of antibiotics.
A Government-commissioned report produced last week by Lord O'Neill warned that a failure to act on anti-microbial resistance could lead to 10 million deaths a year by 2050, with a cumulative hit on the world economy totalling $100trn.
