Amidst all the claims and counter claims of the two sides, there is one important fact. The UK will be £10 billion a year better off by not having to send that amount to be spent elsewhere in the EU as out net contribution. This will also improve the balance of payments by the same amount, and means a 0.6% of GDP gain or boost to our living standards.
Further gains are possible from changing and improving the regulatory burden which the EU imposes on all our domestic and n on EU trade. Whilst we would still want good quality regulations in various areas, we should be able to reduce the total costs of regulation and improve its effectiveness at the same time.
There should be trade and income gains from negotiating UK free trade agreements with major countries not currently covered by EU agreements, including India, China and the USA.
Above all, we will be spared the wild ride to political union. If we stay in the rest of the EU will expect us to pay more of the bills, as they move towards a benefits and transfer union around the Eurozone. The UK has found it difficult to contain the EU budget. In the next few years they will need to spend more on regional and development policies given the poor state of the least successful parts of the Eurozone, mired in mass unemployment.
Why the UK will be Better Off Out – Attachment: Better-Off-Out (1)