Sir Gerald Howarth was speaking after the IMF's head Christine Lagarde (above) said if Britain leaves the European Union next month it would be "pretty bad to very, very bad" for the UK economy.
Christine Lagarde also said leaving Europe could sharply raise interest rates, making loans more difficult to both take out and pay back, and also create "sizeable" long-term losses in income.
Her intervention comes after the Bank of England governor Mark Carney (below) said yesterday that the UK could go into recession if it leaves Europe.
Mr Carney's intervention was criticised by Conservative MP and Out campaigner Jacob Rees-Mogg, who said the Bank of England should not be involving itself in politics as an independent body and that the decision was for the British people alone to make.
Jacob Rees-Mogg also questioned whether the bank is setting interest rates to aide the government's agenda rather than to help the British people, given that it was willing to intervene in the EU debate.
Sir Gerald told Premier's News Hour: "She's part of the great EU project to create the European superstate.
"Of course they're going to add to the government's project fear which is to try and scare the living daylights out of people.
"It is not just about economics, it is about controlling our destiny.
"It is about being able to take control of our borders to stop the flows of migration that are coming into our country, it is about restoring to our Parliament a responsibility for making the laws.
"Please don't continue frightening us with international bodies whose record on forecasting the future is pretty well worse than a clairvoyant at a summer fete."
Listen to Premier's Aaron James speaking to Sir Gerald Howarth on the News Hour: