The cost of a family holiday to Europe could rise by up to £230 (€300) if Britons vote to leave the European Union next month, the British Prime Minister said yesterday in the latest in a string of warnings of the impact of Brexit on family finances.

Britain’s finance ministry said on Monday that a “Leave” vote could cause an immediate drop in the value of the pound by 12 per cent, resulting in higher costs for food and drink and accommodation for families travelling overseas.

Analysis showed that on average, after two years, a four-person family would spend £230 more during an eight-night holiday in Europe after Brexit, the Prime Minister said.

All the evidence points to the value of the pound falling after a vote to leave the EU

“All the evidence points to the value of the pound falling after a vote to leave the EU,” Cameron said yesterday.

“A weaker pound means people’s hard-earned savings won’t go as far on holidays overseas.

“The choice facing the British people on June 23 is increasingly clear: the certainty and economic security of remaining in the EU, or a leap in the dark that would raise prices – including the cost of a family holiday.”

Cameron said on Monday that a vote for Brexit could cause a recession, a tumble in the value of the pound and the loss of half a million jobs.

The campaign for Britain to leave the EU said the finance ministry report was biased because it provided nothing on the upside of leaving the bloc, nor on the potential negative consequences of a crisis in the eurozone.