The quicker the UK leaves the EU the better

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Offline the leveller

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The quicker the UK leaves the EU the better
« on: January 05, 2017, 08:31:42 PM »
 

Quote from The Guardian article on Wed 4th Jan about Sir Ivan Roger’s resignation as UK ambassador to the EU.
 
“MacPherson also cited Rogers’ predecessor Jon Cunliffe and Tom Scholar, previously the prime minister’s adviser on European issues who is now permanent secretary at the Treasury. His warning appears to reflect a Treasury concern that Theresa May is under pressure from Tory Eurosceptics to abandon hopes of trying to negotiate access to the profitable EU single market, even on a temporary basis.” 
 
This is just the sort of misinformation and outright lies being pushed by Europhile groups. The EU’s single market is anything but profitable. The UK has never ever made a profit on trade with the EU. For example, in 2014:
 
·       The UK exported £228 billion worth of goods and services to the EU.
·       But, it cost the UK economy in the region of £190 billion2 to be in the EU.
·       UK trade with the EU resulted in a balance of payments deficit of £61.6 billion.
 
Hence, in 2014 alone it could have cost the UK over £23 billion more to be in the EU and trade with the EU than the UK’s total exports in goods and services to the EU!
 
Furthermore, since the UK joined the EEC in 1973:
 
·       The total current accumulated balance of payments in UK/EU trade is a deficit of over £1.25 trillion.
·       Whereas the UK has had a surplus in its trade with the rest of the world.
·       Not only that, the UK has so far paid the EU net budgetary cash contributions currently worth £415 billion.
 
Is it any wonder therefore that the UK has a national debt of over £1.75 trillion?
The quicker the UK leaves the EU the better. The UK would be far better off trading with the EU using WTO rules.


 
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