Predictions by the Treasury ahead of the Brexit vote have been brought into question by a study which says that leaving the European Union will halve net migration, give British workers a pay rise and help to solve the housing crisis.

The report from the Centre for Business Research at the University of Cambridge examined the possible future scenarios following the referendum decision to leave the EU.

George Osborne, the former chancellor, was heavily criticised in the run-up to the referendum for a series of bleak Treasury assessments about Britain's prospects outside the EU, which became known as "project fear".