1. EU protectionism will probably increase; even within the EU, covert protection against non-euro countries could occur. 2. Even without any change in the status quo the economic costs to the UK of the EU are substantial and are likely to increase under the pressure of the euro crisis. 3. Claims the UK would lose Foreign Direct Investment (FDI) are entirely fallacious and that, free from EU membership, the UK economy’s productivity is likely to be maximized. 4. Free from the EU’s Common Tariff, the UK could instantly benefit from free trade by around 3 per cent of GDP. 5. The concern that the UK will not enjoy the ‘muscle’ of the EU in trade negotiations with third countries is confused and that, trading at world trade prices, it would be against the interests of the other parties to introduce trade barriers. 6. The UK is being constrained through regulation by countries that do not share the same industries. By leaving the EU, the UK would be able to reset its regulations in its own free-trade interests and open the UK to the global economy.
Posted on: Mon, 15 Jul 2013 16:22:33 +0000
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