Cameron, Corbyn push for Remain as Citi sounds alarm

Bloomberg

U.K. Prime Minister David Cameron and opposition Labour Party leader Jeremy Corbyn returned to the front line to make the case for staying in the European Union as the anti-Brexit campaign attempted to maintain momentum three weeks out from Britain’s referendum.
The pound dropped earlier this week as successive polls showed a swing in favor of “Leave,” suggesting the campaign’s concentration on immigration may be hitting home with voters. Citigroup Inc. economists Willem Buiter and Tina Fordham said in a note on Thursday they’re “increasingly concerned” in the run-up to the June 23 vote.
Corbyn, highlighting the social and welfare case for staying in the bloc, made the case that EU regulations have entitled 26 million workers in Britain to 28 days of paid leave per year, delivered rights for temporary and part-time employees and granted 340,000 women a year maternity leave. “Several ‘Leave’ supporters have stated clearly they want to leave Europe to water down workers’ rights, to rip up the protections that protect work-life balance, that prevent discrimination and prevent exploitation and injustice,” Corbyn said.
“A vote to leave means a Conservative government would be in charge of negotiating Britain’s exit. Everything they have done as a government so far means we could not rely on them to protect the workplace rights that millions rely on.”
The interventions from the two leaders come as:
In a further example of the blurring of traditional political boundaries increasingly characterizing the campaign, Osborne co-signed a letter with his Labour predecessor, Alistair Darling, saying the “Leave” campaign must provide answers to five questions on its plans for trade, jobs and the public finances if Britain votes to leave.
The Leave campaign hit back with its own five questions on immigration that it said Cameron must answer. Liam Fox, Cameron’s former defence secretary, gave a speech making the case for leaving the EU because of the “cost of uncontrolled migration.”
Economists for Brexit hosted a panel featuring U.K. Independence Party leader Nigel Farage rebutting what they call “the Big Fix:” modeling by domestic and international agencies that point to the economic damage of a vote to leave.
While Cameron has focused on the economics of a Brexit, the Leave campaign has sought to divert the argument to immigration, arguing the only way to stem an influx of EU citizens is to leave the bloc.
Fox pointed to the pressure on services caused by migrants, including a dearth of school places, doctors’ surgeries working at capacity and overstretched road networks.
“Remaining in the EU is likely to mean continuing high levels of migration over which the U.K. will have absolutely no control,” he told reporters in London.

Points System
Former London Mayor Boris Johnson and Justice Secretary Michael Gove, leading Leave campaigners, pledged on Wednesday to implement an Australian-style points-based immigration policy to limit the number of people entering the U.K. That reflects an election pledge made last year by the anti-EU U.K. Independence Party. Home Secretary Theresa May rejected the idea.
“If you look at the figures, Australia has nearly double the level of immigration per head that we have here in the U.K.,” she said in a statement. “The current level of immigration is too high, but there is no silver bullet.”
Osborne and Darling described the Leave campaign’s plans for a post-Brexit Britain as “uncosted and unworkable,” leaving the suspicion that it is “just making it up,” according to the open letter published by the Britain Stronger In Europe group.