The UK could be £150 billion a year better off out of the EU
New research has found that the UK is 10% of GDP (about £150 billion) a year worse-off because we are a member of the EU instead of being an independent sovereign nation like Norway or Switzerland in our own continent, or like Canada or Australia in the wider English-speaking world.
In “How much does the European Union cost Britain?” TFA Hon. Chairman, Professor Tim Congdon, finds that the UK would quickly benefit by about 2% of GDP if it left the EU as contributions to the EU Budget would be stopped, changes to the UK’s benefit system could be made and fines from the European Court of Justice could be chucked in the bin.
Professor Congdon said: “UK households will then benefit over the following decade from lower food prices, cuts in electricity and water charges, and greater ease of employment.”
The research also finds that the removal of the restrictions in the acquis communautaire would lead to the formation of more small and medium-sized companies, and the economy would move to a higher growth path.
Professor Congdon went onto say: “Over time the UK would make good the 10% output shortfall that can and must be blamed on EU membership.”
When the EU has increased the UK’s direct contributions to £19.2 billion per year (£53 million per day) and is estimated to cost the average family in the UK around £5,000 per year, isn’t it time to remove ourselves from the cash hoover that is the EU?
To hear more about Professor Congdon’s pamphlet and findings you can attend either his session on the afternoon of Friday 21 September 2012 in the main UKIP centre conference or his breakfast seminar on the morning of Saturday 22 September 2012.
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