Britain could flourish as an international trading nation outside the economic shackles of the EuropFriday November 26,2010 By Macer Hall BRITAIN would flourish as an international trading nation outside the economic shackles of the European Union, a leading business expert said last night. Disputing the key argument of Euro-enthusiasts that quitting the EU would wreck the UK’s trade prospects, economist Ruth Lea said that independence from Brussels meddling would boost the country’s import and export markets. And she pointed to the success of affluent nations such as Switzerland and Norway that have successfully negotiated free-trade deals with dozens of other countries while staying outside the EU. “We have to kill the myth that British trade would be damaged by leaving the EU. It is piffle,” said Ms Lea, who is economic adviser at the Arbuthnot Banking Group. She said a Britain freed from Brussels control could continue to trade with European countries while forging into new markets in Asia, America and beyond. “If we left the EU, we could negotiate our own special trade deals with countries such as China, India, the US, Canada and New Zealand. We would be able to negotiate our own trade deals, which is something we haven’t been able to do since 1973. At that time, few people understood quite how much we were giving up.” Ms Lea’s experience as an economist in the City of London told her that much of Britain’s business was already done outside the EU. “The City of London is a global business,” she said. “And our manufacturers, too, have got to think more in the world outside the European Union.” And she dismissed the argument put forward by many EU supporters that Britain’s exit would lead to trade with Europe collapsing. “The idea that if we left Europe, then Mercedes Benz would suddenly stop selling cars to us is absurd. “Trade will happen. Britain is still an affluent nation with a large population, and Europeans will still want to trade with us. “Of course, we would need to be able to trade with Europe,” she said. “Even though Europe is an increasingly less important part of the world, Europe is important to us for trade.” Ms Lea pointed out that Switzerland and Norway had flourished in the European Free Trade Association, a free-market enterprise zone with far less regulation than the EU. While the Swiss faced higher duty costs as a result of being outside the EU, the overall financial impact was far less than the multi-billion annual cost of EU membership. Ms Lea said the widespread claim that the EU represented an inter national free-trade zone was a misunderstanding. “The single market means heavy regulation,” she said. “People think the single market is a free-trade area, but it isn’t. “It’s all about harmonisation of regulation.” Trade figures suggest that EU nations consistently buy more British exports than British consumers buy from the EU. That has led some critics to conclude that EU states “need us more than we need them”. In 2007, the UK had a £40billion trade deficit with the other 27 member states, including £19billion with Germany. Critics have also disputed the claim that Britain quitting the EU would lead to millions of job losses in the UK. The think tank Global Vision has estimated that while three million British jobs are dependent on trade with EU nations, nearly four million jobs in other EU states are dependent on trade with Britain. It means EU exporters – and Governments – are unlikely to want any cuts in trade with Britain, suggesting the country can leave the union without losing trading partners. Norway, Iceland and Lichtenstein all benefit from the EU single market despite not being members of the union. As members of the European Economic Area, they are able to benefit from a lack of trade tariffs without having to sign up to a welter of EU regulation. Some commentators believe that Britain could negotiate a similar status, remaining in the EEA while quitting the EU. As an EU outsider Switzerland has negotiated trade deals with EU member states. And evidence is growing that businesses are frustrated with ever-increasing levels of Brussels red tape. A recent survey of 1,000 company chief executives by the Open Europe think tank found that 54 per cent thought EU regulation “outweighed” the benefits of the single market. And 60 per cent thought the Government should renegotiate the terms of Britain’s EU membership to include free trade only. Meanwhile, in a show of arrogance towards the British taxpayer, president of the European Council Herman von Rompuy last night failed to respond to telephone calls because he was preparing for a back-slapping event. The Belgian was being awarded the “Collar of Merit” by the Foundation of European Merit, headed by disgraced former European Commission head Jacques Santer. In a show of self-congratulation, the Collar was also awarded to Manuel Barroso, European Commission president, Jerzy Buzek, Polish president of the Euro Parliament and Jean-Claude Juncker, Luxembourg’s prime minister. EURO MADNESS - £350,000 for a dog fitness and rehabilitation centre that was never built. Plans included developing a hydrotherapy system to “improve dogs’ wellbeing”UK NEWS
THE GREAT LIE THAT BRITAIN WOULD SUFFER OUTSIDE EU
- £4.5m for a fleet of limousines for Euro-MPs in Strasbourg. Green Party estimates already show that travelling between and maintaining the European Parliament’s two buildings in Strasbourg and Brussels already costs European taxpayers £170m
- £13,500 to Tyrolean farmers to boost their “emotional connection with the landscape.” They were expected to become “more aware of their emotional reactions to it compared to their prevailing rational economic ones.”
- £4,300 on a “Europe Horse” to promote the EU to German children. A booklet was produced chronicling the cartoon animal’s trip from Germany to Brussels, meeting various EU figures along the way
- £763,000 for a golf course, hotel and spa whose guests include German Chancellor Angela Merkel. The platinum membership fee for the club is 1,100 euros per year
Saturday, 27 November 2010
Posts
YES, BUMPER STICKERS PLEASE...GREAT IDEA.
26.11.10, 11:42pm
Yes please, DE, bumper stickers and a leaflet to photocopy.
We are many, we can do a lot..
• Posted by: 4truth • Report Comment
BUMPER STICKERS PLEASE
26.11.10, 9:34pm
Could the DE please print and put inside all your newspapers bumper stickers saying EU Referendum NOW for ppl to put on their cars and house windows
• Posted by: Englander222 • Report Comment
CRAZYHORSE -- "WE DONT EVEN MAKE WASHING MACHINES"
26.11.10, 8:01pm
Yes we do. Washing machines, and many other items, are made just down the road from me in Halifax.
Although we have lost a lot, the UK has far more industry and manufacturing than many think
• Posted by: Cadet_Salvo_Vied • Report Comment
IT REALLY IS A LIE/DIVER
26.11.10, 7:05pm
It really IS a lie that Britain exports more to the EU than we import from the EU. The official government figures show that we have a balance of trade DEFECIT with the EU of over £380 Billion since we joined. Why can't people look up the facts before commenting!!
I cannot understand divers comment about me putting my head in the sand and that millions of Brits would be far worse off if we left the EU. I quoted facts and figures in my comment which are all verifiable. All he can respond with (like all europhiles) is vague and unquantifiable forecasts of doom and despondency if we left the EU and managed our own affairs. Why dont you read Peter Shore's book "Seperate Ways"? This proves beyond any doubt that the EU intended to screw Britain forall it was worth even before we joined by tinkering with the means for budget payments. That typically treacherous Tory traitor Ted Heath just swallowed the lot in his desire to get the UK in. One of the nasty surprises sprung on Ted Heath as a condition of entering was that the UK's territorial waters were a EU "facility" and belonged to all the EU nations. Ted Heath's answer was to say that "Scottish fishermen were expendable".
• Posted by: jerry71 • Report Comment
IT REALLY IS A LIE...
26.11.10, 6:45pm
...that we export more to Europe than we import from them. I have lived there on and off since 1963. There are very few British products on the shelves of Supermarkets, no Welsh lamb, no Scottish beef, Daddies sauce, Sage & Onion Stuffing, English pork sausages,etc etc, they do have Irish butter now, but then they accepted the euro! I had a Dutch friend whos Father owned a large barge in Masstrict, he sailed from Holland into Germany with a cargo of sand, had the papers signed , then sailed back into Holland with the same cargo, where again papers were signed, he did this for years!!! import, export, import it looked good on paper and everyone in the United State of Europe was happy, what a farce the whole thing is.
• Posted by: Disgruntled • Report Comment
WE NEED NO CONVINCING
26.11.10, 2:44pm
Ruth, please go into Number 10 and pound the desks. Iife he doesn't listen then pound his head.
We true British citizens demand to be heard and our aspirations met. Else he will be out on his ear come 2015.
UKIP Nige is looking better and better, each time I see him perform in Brussels.
• Posted by: deg • Report Comment