|The June Press|
|How much does the European Union cost Britain?|
by Tim Congdon.
With a fioreword by Gerald Batten MEP, the economist Tim Congdon, examines whether Britain wins or loses economically from its membership of the EU, and how any benefits compare with the costs? The costs turn out to be 11% of national output - about £185 billion - worse off every year because it is a member of the EU.
[eurofacts (Vo 19 No 2) – 18th October 2013]
This extremely well researched publication is updated yet again for 2014.
The latest figures show that the UK is roughly 11% of GDP - about £165 billion to £170 billion - worse off every year because it is a member of the EU.
Why so bad? Well according to Congdon - a leading economist - the main reason given for the heavy cost is the damage that misguided EU ‘legislation’ (in the form of directives and regulations that constitute the acquis communautaire is doing to British business. Small and medium-sized businesses have been particularly disadvantaged, as they cannot cope with the paperwork, bureaucracy and restrictions.
He goes on, other costs include the direct fiscal cost, the costs of resource misallocation, the cost in lost jobs, the cost of waste, fraud and corruption, and the potential costs from possible failure of EU institutions and benefits tourism’. Each of these is covered in great detail in this publication, leaving one in no doubt that the EU has become a millstone around the future prosperity of the UK both economically and in the cost of jobs.
Congdon points out that the EU has free trade agreements with Mexico and Israel, and is seeking one with Japan. Norway, Switzerland and Turkey are ‘in the European orbit’ and have access to the EU’s single market, but are not members of the EU. The UK can leave the EU, and retain strong and vibrant trade links with the EU. Outside the EU, we can put in place the free trade agreement with our European partners, which is all that most people in Britain wanted when we joined the then ‘Common Market’ in 1973.
Gerard Batten MEP in his foreword points out that the EU has not produced more jobs or prosperity, but is actually restricting these things while costing more every year as it expands its political ambitions. As Professor Congdon clearly states, the whole EU project is not, and never was about the development of trade and prosperity for its member states. It is about the creation of a United States of Europe. It is an undemocratic, utopian, political project advanced by lies and deceit; unwanted and unloved by the public.
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