EU referendum: top economic thinktank warns of post-Brexit shocks

NIESR forecasts sterling to plunge 20% with prices to soar, pay and growth to fall steadily but immigration unlikely to be cut sharply

The pound would plunge 20% immediately after a Brexit vote in June, according to a leading economic thinktank.

The National Institute of Economic and Social Research (NIESR) has also forecast that prices will soar and Britain's growth rate will be 1% lower next year if there is a vote to leave the EU.

Related: Brexit 'unlikely to mean deep migration cuts but may lead to 2p tax increase'

Related: Business support for EU membership has fallen in run-up to vote