Britain to urge G20 to warn of Brexit: FT

Britain's Chancellor of the Exchequer George Osborne arrives at Downing Street in London on February 20, 2016, ahead of an expected meeting of the cabinet following Prime Minister David Cameron's return from EU negotiations in Brussels (AFP Photo/Justin Tallis)

London (AFP) - Britain is to call on G20 finance ministers gathering in China from Friday to highlight the dangers posed if the country left the European Union, the Financial Times reported.

British finance minister George Osborne hopes to include an endorsement for Britain's continued membership of the EU and a warning about the possible destabilising effects of a Brexit on the world economy on the communique issued by the ministers, who represent 85 percent of the world economy, according to the business publication.

The British government has already enlisted the help of the country's biggest companies, with chiefs of a third of FTSE 100 firms signing a letter this week urging voters to stay in the bloc when they go to the polls for the in-out referendum on June 23.

Meanwhile, Simon Walker, director general of business group Institute of Directors (IoD), warned Thursday that Britain could experience years of job losses, higher prices and slower economic growth if it voted to leave.

However, those backing a so-called Brexit, including London mayor Boris Johnson, have accused the government and big business of "scaremongering" and "wildly exaggerated" the economic threat.

G20 finance ministers gather in Shanghai from Friday with the global economy assailed on multiple fronts, from China's slowing growth to weak commodity prices, amid simmering disagreements over how best to face the challenges.