The Tory Brexit Budget to slash spending and hike taxes would take place within weeks of an EU referendum Out vote, George Osborne claimed today.
The Chancellor threatened to swing his axe at the NHS, schools and defence while raising VAT and income tax to plug what he said would be a £30billion black hole in the public coffers.
And former Labour former Chancellor Alistair Darling warned of an “explosion” in the economy if Britain left the 28-nation bloc.
Speaking at the Hitachi rail plant in Ashford, Kent, Mr Osborne outlined the table for his emergency Budget.
He said: “It would have to be within the next couple of months. You'd have to get on with it, you have to show the world you have a credible plan to deal with the deteriorating public finances."
He stood alongside Lord Darling in the pair's only joint appearance on the referendum campaign trail.
The Labour peer warned: “Imagine what would actually happen if we do vote to leave next Thursday.
“In my experience, once you light a blue touch paper in our economy, you can never be sure where it will end up – but we do know an explosion will follow.”
He added: “There would not just be one emergency Budget, but I suspect one after another.”
Mr Osborne denied fearing a vote to leave on June 23 would see him turfed out of No 11 and destroy his hopes of succeeding David Cameron.
“It's not about one politician, it's not about one political career,” he insisted.
“This is about the future of our country, about who we are as a country.
“What's the point of getting involved in public life if you're not prepared to fight for the things you think are really important to our country and its future, its standing in the world and for jobs and prosperity?”
Quitting would be a “lose-lose” for families “and we should not risk it”, he said.
“We don't have to choose this risky and damaging future for our economy.
“A vote to Remain next week means we can see the economy keep on going, creating jobs, cutting taxes, protecting the public services that people most depend on.”
In a passionate plea to voters, he urged them to back In next week – and vowed to continue battling during the run-up to polling day.
“With all my heart I will be fighting every hour until next Thursday to persuade people that we are stronger, safer and better off by voting to stay in a reformed EU," said Mr Osborne.