EU referendum: Osborne warns of trade 'catastrophe'

Chancellor George Osborne has warned that leaving the EU single market would be "catastrophic" for the UK economy.

It comes after Justice Secretary Michael Gove rejected claims the UK would be "punished" by other countries for leaving, by having tariffs placed on its exports.

But speaking to ITV's Peston on Sunday, Mr Osborne said a vote to leave would "wreck the economy".