1. Save money: The UK would save £20 billion a year in gross contributions to the EU. That’s nearly £55 million a day better off out. In terms of net contributions, in 2012 the UK paid the EU over £10 billion to the EU in direct contributions.
2. Cheaper food: The Common Agricultural Policy (CAP) costs the UK near £10 billion a year, nearly £400 per household. Outside CAP the UK wouldn’t have this cost and could benefit from liberalising reforms.
3. Better trade agreements: The UK would be free to negotiate, on its own terms, much more liberal trade agreements with third countries than is possible under the Common External Tariff.
4. Faster trade agreements: The UK could form Free Trade Agreements (FTAs) quicker than with the EU. Currently the EU has been in negotiations with countries like Canada since 2009 and India since 2007. Without EU membership the UK could achieve agreements faster.
5. Free from EU business regulation: Despite only sending roughly 10 percent of its GDP in goods to the EU, UK business needs to comply with 100 percent of EU business regulations. Outside the EU, its regulations do not have to apply. Incidentally, this does not have to hurt exports to the EU: both Switzerland and Norway manage to export more per head to the EU than the UK without EU membership.
6. Legislate on its own terms: Despite successive UK governments failing to say what proportion of domestic laws come from Brussels, analysis by the German Federal Justice Ministry showed that 84 percent of the legislation in that country came from the EU. This would enable the UK to orientate itself to be an outward looking, globally focused, hub.
7. Lower costs for business: Figures from the British Chamber of Commerce show that 70 percent of the regulatory cost to business in the UK comes from EU legislation. According to Open Europe, EU legislation had a cumulative cost of £124bn to the UK by 2009. Free from this regulation businesses in the UK would be more competitive.
8. Control of its waters: Outside the Common Fisheries Policy, the UK could reassert control over its waters out to 200 miles or the median line, which would take in around 65 percent of North Sea stocks.
9. A better standard of living: According to analysis by The Economist’s Intelligence Unit (EIU), seven out of the top ten best places to be born in 2013 are outside the EU, with the UK ranking 27th. 14 nations outside the EU are higher in the ranking than the UK.
Also, a study done by the OECD found that the three countries with the highest life satisfaction are Switzerland, Norway and Iceland – all of which are outside the EU. In this particular 2013 study, the UK came 18th behind countries that included USA, Canada, Australia, New Zealand, as well as countries such as Mexico and Israel.
10. Without EU membership, the UK could reconnect with economies in the Commonwealth that are growing at over 7 percent a year, instead of being tied to a bloc of countries that is in recession, decline and does not share the same values, structures and traditions.
In summary, the UK and its population would be wealthier, benefit from higher standards of living, enjoy a more competitive business environment and be offered more global business opportunities if it weren’t a member of the EU. It’s time to leave and reconnect with the world.