The UK does not need to be in a political union in order to trade. This and other inconvenient truths are outlined in a new report by UKIP MEP William Dartmouth.
• This paper is primarily about trade. I also address intra EU emigration, and the EU’s behaviour to the UK. These are matters of considerable public interest - indeed concern. I have also takenthe opportunity to refer to the threat that the EU’s “Stockholm Programme” poses to the entire English legal profession. However, it does not cover the EU’s control over inward investment to the UK (in the jargon, Foreign Direct Investment - FDI).
In discussing Trade, we should always bear in mind the burden of EU Membership on the UK economy. The cost of EU Regulation on the UK’s entire economy has been estimated at over 10% of GDP. As Professor Tim Congdon has written “...The UK is roughly 11% of GDP - about £165 to £170 billion worse off every year because it is a member of the EU.... My [figure] includes the damage from regulation, the damage from resource misallocation, the damage from lost jobs, etc...”
To put it into perspective, less than10% of our economy is accounted for by UK exports to the EU. Nevertheless, the consequence of the UK’s EU membership is that 100 % of our economy is subject to the burden of EU Regulation.