G7 world leaders say Brexit poses a serious risk to global growth

Brexit was listed alongside geopolitical conflicts, terrorism and refugee flows as a potential shock of a “non-economic origin”.

US President Barack Obama, Japan's Prime Minister Shinzo Abe and French President Francois Hollande wave as they join other leaders of the Group of Seven nations (Getty Images)

Seven leaders have warned of the risk to global economy if Britain votes to leave the European Union in a referendum next month.

The UK leaving the European Union would “reverse the trend towards greater global trade and investment, and the jobs they create, and is a further serious risk to growth,” leaders said in a joint declaration at the G7 meeting in Japan.

The warning was listed together with concerns about terrorism, the refugee crisis and geopolitical conflicts as a potential threat of a “non-economic origin”.

Prime Minister David Cameron’s campaign has focused on the danger to growth and jobs of choosing to leave the 28-nation bloc in the 23 June vote.

Angela Merkel, the German Chancellor said the EU Referendum was not a major topic of discussion at the summit but there was a consensus that leaders wanted the UK to stay in.

“It was no subject here. But there was the signal that all who sat here want Britain to stay part of the EU,” she said.

“But the decision is up to the British voters,” she added.

The G7 statement follows comments from Bank of England Governor Mark Carney that the event could cause a sharp collapse in the value of the pound.

IMF’s managing director Christine Lagarde warned the effect of Brexit on the British economy ranged from “pretty bad to very, very bad.”

Speaking to the press at the conclusion of the G7 talks on Friday, David Cameron said the UK should “listen to our friends” on the issue of EU membership.

“The question is not: are we a great country? The question is how do we do best. And it is not just me saying that there are economic risks from Britain leaving the EU – it is now a pretty large consensus that includes people of impeccable independence and academic standing,” David Cameron said.

But some voters have recently blamed UK politicians for not knowing how to vote.

A member of the audience participating in the first major debate on the European Union Referendum blamed “insults” and “deflections” from politicians for not knowing how to cast his vote.

The 21-year-old from the audience said: “I just want to say to you all: here we are again. Once again we’ve got deflections, insults, petty name calling… Do you actually believe your own campaigns?”

Greeted with applause and laughter, he added: “What are we supposed to do? I do not have a problem admitting I have no idea what to and I blame you lot entirely for that."