Categorized | News

THE EU is not critically IMPORTANT to the UK as far as TRADE is CONCERNED!

One of the common canards used by europhiles in the UK is that Great Britain needs EU trade more than the EU needs Great Britain.

But a recent study from the respected, pro-conservative (with a small c) think tank, the Bow Group, places serious doubt of that theory.  Here’s a few highlights and the entire report is here:

The latest official figures as I write, published by the Office of National Statistics on 11 September, show that the EU now accounts for 43.6 per cent of our exports, the lowest share since the current measure was introduced in 1988.

Never mind a percentage point here or there, though. The trend is unarguable. Every continent in the world is growing except Europe. Our exports to the EU fell by 7.3 per cent in the last three months for which we have data, while our exports to the rest of the world rose by 12.8 per cent.

In fact, economic growth in non-EU nations in greater than in EU nations!  (Study the charts in the article)

In June 2012, the Commonwealth’s economy overtook the eurozone’s. According to the IMF, the countries within the single currency will grow at an average of 2.7 per cent over the next five years – which strikes me as optimistic – while the Commonwealth surges ahead at 7.3 per cent.

That is the British Commonwealth of Nations surging in economic growth.  The Bow Group report cites Switzerland.  Recall that UKIP Leader Farage was laughed at several months ago when he said that he was accused of wanting the UK to be like Switzerland.  Of course, he quipped, Switzerland is prosperous and free!

“We wouldn’t want to be like the Swiss, would we? That would be awful! We’d be rich!

But maybe Farage had the last laugh:

Consider Switzerland. The Swiss declined to join the EU, instead negotiating a series of sectoral trade accords covering everything from fish farming to the permitted size of lorries. As a result, they are fully covered by the four freedoms of the single market – free movement, that is, of goods, services, people and capital – but are outside the CAP and CFP, free to determine their own human rights issues, and spared the budget contributions which EU members are required to make to Brussels.

Has their trade to the EU suffered in consequence? Hardly. In 2011, their exports to the EU were, in per capita terms, 450 per cent of Britain’s. Let me repeat that astonishing fact. Switzerland sells four-and-a-half times as much per head to the EU from outside as we do from inside. It’s true, of course, that Swiss exporters must meet EU standards when exporting to the EU, just as they must meet Japanese standards when selling to Japan. But, critically, they don’t allow the EU to dictate their trading arrangements with third countries.

These paragraphs demonstrate that you do not need political integration (read: loss of sovereignty) to trade with the EU.  And in a truly free trade scheme, the EU regulations would end up placing the EU nations and economy at a competitive disadvantage and would be modified.

But rather, the EU requires, let’s say this again, REQUIRES, a tariff on trade with all non-EU nations of between five and nine percent.  I thought the WTO was to prevent that?  Perhaps the EU exempted itself from the WTO somehow.  (Again, I do not favor the WTO at all!  It’s a sovereignty killer.)

The point of this excellent article by the Bow Group is that the UK does not need the EU.  What the UK needs is true free trade.  And perhaps be more like Switzerland.


About Elwood Sanders

Elwood "Sandy" Sanders is a Hanover attorney who is an Appellate Procedure Consultant for Lantagne Legal Printing and has written ten scholarly legal articles. Sandy was also Virginia's first Appellate Defender and also helped bring curling in VA! (None of these titles imply any endorsement of Sanders’ views)

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge

Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

Sign up for Virginia Right Once Daily Email Digest

No Spam - ever! We send a daily email with the posts of the previous day. Unsubscribe at any time.
* = required field

Follow Us Anywhere!