George Osborne: Brexit will trigger profound shock on Northern Ireland

Brexit would trigger a “profound economic shock” in Northern Ireland and result in an inevitable hardening of the Irish border, the UK Chancellor will warn on a visit to the region.

George Osborne will point to a new Treasury analysis and suggest unemployment would rise by 14,000 in Northern Ireland over two years if the UK left the European Union, with 2,000 added to the youth unemployment figure.

The impact of the shock from leaving the EU could equate to a £1.3bn reduction in the size of the Northern Ireland economy by 2018, with house prices falling by £18,000 over the same period, Mr Osborne will insist.