Some Tory donors are going to pump the Brexit campaign with up to £5 million

Britain's Prime Minister David Cameron received some major flack for using £9.3 million of taxpayers' money to send a leaflet round to every home in Britain to get them to vote against a Brexit.

Now, a raft of members from Midlands Industrial Council - some of Cameron's Conservative party's most long term donors - are looking to "donate between £4 million and £5 million to the anti-EU campaign over the next 10 weeks," says The Telegraph newspaper.

The newspaper reported that the Council's secretary David Wall said that his members were "incandescent with rage" with the leaflet that Cameron's government sent out recently. He added that five members of his council have already given the Brexit campaign £500,000 each.

You can read the full report here.

This revelation in The Telegraph further fuels the idea that there's a huge schism in the Conservative party right now.

Prime Minister David Cameron and Chancellor George Osborne are for staying within the EU. However, there's a whole bulk of Cameron's party that is for Britain leaving the European Union.

The report follows closely after International Monetary Fund's warning that a Brexit is a "real possibility" and could cause "severe regional and global damage."

Alongside the gloomy predictions about what will happen if the UK votes for Brexit, the IMF also cut forecasts for the UK's GDP growth in 2016. Growth is expected at 1.9% this year, down from a forecast of 2.2% in January. That cut came alongside a global growth forecast cut, which saw predictions slashed from 3.4% in January to 3.2% on Tuesday.

On Tuesday, Osborne welcomed the IMF's warning on Brexit, saying in a statement:

While Britain remains one of the fastest growing advanced economies in the world, the IMF's warnings about our exit from the EU are stark. For the first time, we're seeing the direct impact on our economy of the risks of leaving the EU.

The IMF says that these risks are a reason why they have reduced Britain's growth forecast this year.

If Britain leaves the EU, the IMF says there would be a short-term impact on stability and long-term costs to the economy.