How much more damage will we allow the EU and its so called single market do to British business and our jobs and incomes?
There are several important facts about the EU’s single market that Remain do not recognise.
- Since it was completed in 1992 the UK’s trade in goods has not grown with the rest of the EU.
- Between 1951 and 1972 when the UK first joined the EU manufacturing output rose 4.4% a year. Since we joined the EEC/ EU there has been no growth in UK manufacturing.
- The trade of non EU countries with no special trade deals with the EU like India, China and the USA has grown more quickly with the EU than our trade from inside it.
- The government’s own foresight report said that “Output and productivity growth (of UK manufacturing) was reasonable 1951-73” and worse after we joined the EU.
- The main advantage of the single market, that there are common rules and specifications for all 27 other EU countries making it easier to sell into the market, applies whether the exporter to the EU is in or out of the EU itself.
- The EU never completed its single market in services. The danger is that as it does so its rules and regulations will damage the UK rather than assist us. The City is often in dispute with the EU over its proposed rules.
- The single market has been used to add on all sorts of other laws, taxes and obligations which the UK does not want and have little to do with trade.
- The Germans and others see the Euro as an integral part of the single market and are not happy about the UK being permanently out of it.
- You can trade quite happily with the single market without being in it as a member.
- The EU’s trade agreements with a range of smaller countries will automatically apply to both the UK and the rest of the EU as the original parties, if we leave.
- Much of world trade is not under any special trade arrangements.