WORCESTER'S MP has backed controversial Treasury claims that a Brexit would spark havoc with the British economy - saying it could cost this region 44,000 jobs.

A breakdown of Chancellor George Osborne's so-called 'doomsday dossier' has estimated that typical house prices in Worcestershire could plunge by £24,000 if Britain quits the EU.

The Treasury figures also suggest the West Midlands economy may shrink by £4.2 billion within two years, a scenario resulting in that projection of 44,000 fewer jobs.

The regional comparisons forms part of the Government's calculations that GDP could be hit by 3.6 per cent, costing the UK 523,000 jobs by 2018.

City MP Robin Walker now says he has "real concerns for the local economy" if a Brexit becomes reality.

It comes despite the grim Treasury predictions, which includes holidays abroad costing Brits £230 extra a year, being savaged as a "fantasy" by critics.

"One of the key reasons I'll be campaigning to 'Remain' is that I could not, in good conscience, take a position which I felt might lead to constituents losing jobs," said Mr Walker.

"As a private citizen there were times when I might have been tempted to back the Leave campaign as I feel strongly the EU needs changing and that Britain should have a louder voice within it.

"But my experience as an MP for a city where unemployment has halved leads me to believe it's just too important to keep people in work.

"I could not face the task of telling people whose personal financial circumstances were damaged by coming out the EU that it would 'be all alright' because things might get better in the future, I'm not even sure that would be the case."

Yesterday we exclusively revealed how major city employers including Worcester Bosch, Yamazaki Mazak, the Heart of Worcestershire College and the University of Worcester are all backing staying in.

Mr Walker said he's come to the conclusion the economy faces "less pain in both the short-term and long-term" by rejecting a Brexit.

He also says he has a lingering feeling many investors, especially large ones, are holding off on sinking cash into the UK until the outcome is known, leading to a possible "relief rally" after June 23.

"Those supporting the Leave campaign call this 'Project Fear' but for me it is really a case of 'Project Reality'," he said.

"At a time of strong economic growth in Worcester, beating the weaker national trend, we should be doing everything we can to boost investment.

"A 'relief rally' from inward investors could be just what we need to take things forward locally and nationally."

The dossier, which also claims an even worse 'severe shock scenario' could occur of 800,000 job losses, has been attacked as "not believable" and "a hoax" by Boris Johnson.

Scotland First Minister Nicola Sturgeon, a backer of Remain, has also called it "overblown" and says Mr Osborne has "insulted people's intelligence".