David Cameron has hit back at claims that holding the EU referendum was an 'irresponsible' move, despite it having the potential to cause some major issues.

The Prime Minister told a recent press conference that he had “good reason” to hold the referendum, however he did say that there were risks to doing so, citing possible "severe economic consequences” were the UK to vote to leave the EU.

Mr Cameron said: "I absolutely think that if we vote to leave, it’ll have these severe economic consequences, and it’s not just the Treasury that is saying that — the IMF, OECD and Bank of England have all said it.

“In terms of holding the referendum, it is a pledge and a promise that I made, and for good reason — we’ve been in this organisation for 40 years, [so] people of this generation haven’t been able to make the choice of whether to stay or to leave.

“Europe has made changes over the years and you can’t hold a country in an organisation against its will. I think we should welcome the fact that we’re having the big sovereign decisions by the British people."

A recent Treasury report said that the exit could send Britain spiralling into a 12-month recession, as well as contracting the economy and causing rising unemployment.

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