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BREXIT: Report suggests UK economy has lost out on trillions by being EU member

Tonight RT News UK covered a recently published report, by UK think tank Civitas, which exposes the myth that the UK benefits trade-wise by being a member of the EU, handing a serious boost to the #Brexit campaign.

In fact, the report goes on to suggest that the UK economy may actually have been losing out, to the tune of trillions, simply by being inside the constraints of the EU.

‘The main aim of governments has been to ensure that membership of the EU is seen as a prized asset, which the UK must not let slip from its grasp. This has resulted in a mis-selling of the trade benefits of the Single Market comparable in some respects to the mis-selling of payment protection insurance, though on a larger scale, over a longer period, and with far more serious consequences.

‘PPI offered borrowers protection that on closer inspection proved to be illusory, and at disproportionate cost. The evidence shows that the same might well be said of the Single Market.’

Myth and Paradox of the Single Market: How the trade benefits of EU membership have been mis-sold.

Michael Burrage, January 2016

RT News Report

This report certainly merits further study and some serious answers from the ‘Stronger In’ camp who have been peddling imaginary figures with no other purpose than scaremongering.

report-growth-table

Link to full Civitas Report (PDF)

 

About UK Rants

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"UK Rants" is a blogger who supports both the Conservative party and leaving the European Union. He writes on current affairs to inform his readers with as much information as he can, to allow them to make most informed decision possible when voting. He blogs in his personal capacity at ukrants.co.uk.

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