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Monday, March 31, 2014

"EU Membership Damages Rather Than Improves Our Economy" - Part I of VI Part Debate Between With Scottish Lib Dem Leader Or Nominee

   Last Monday Willie Rennie publicly claimed that UKIP’s desire for growth was inconsistent with wanting to quit the EU. He knew UKIP were censored from the debate  – hence the present online debate


    In 1980 the 10 EU countries represented 30.9% of world gdp. Now the 28  represent 18.3% and declining. The world economy is growing at 3.4%, which means, with the EU in recession, the non-EU 83% is growing at 4.1%. The EU is the only zone of the world economy in recession.

    Why is the EU failing? Professor Tim Congdon calculates that membership costs us £170 billion & Professor Minford has a similar figure. This includes an estimate of 5% of gdp lost directly though EU bureaucracy (the rest is mainly higher food costs, welfare costs of immigrants and our direct financial payment). If this be thought surprisingly large it may be because it is little reported in Britain that EU Commissioner, Gunter Verheuggen has publicly estimated bureaucracy cost slightly higher at 5.5% of the community’s wealth.

   This is simply the immediate cost – the long term cost of the lost growth giving us an economy half the size it should be is far greater.

     For 40 years now British politicians have said that all that is needed is reform and they will achieve it, given a couple more years. We didn’t quit when we were ahead. Perhaps we should quit now we are [40yrs X £170bn} £6,800,000,000,000 behind.

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