Tuesday, 22 September 2015

EU is a bad deal for the UK and we should look elsewhere

I was given a free copy of the Times today by Waitrose. On page 41 there is a piece by Oliver Kamm, a Times leader writer, on matters arising from a Brexit for small businesses. I was struck by the simple graph he displays showing that since  mid 2012 UK trade with the EU has steadily worsened by over £10 bn.. In the same period our trade with the rest of the world has remained in balance. ( I regret that Mr Mudoch does not allow one to reproduce excerpts from his papers so no graph can be reproduced here.)

Mr Kamm is not very good at interpreting the obvious when it does not suit his EU phile agenda and writes, "No one reallly knows what would happen to trade and foreign investment if Britain left the EUwith the EU. We have to go on educated guesses. (More like prejudice in my view) That outside the EU Britain would no longer be as attractive a destination for direct investment."

I give below the Kamm's chart which seems to have come without acknowledgement from the ONS

Figure 3: EU/non-EU current account balance (Seasonally adjusted)

Figure 3: EU/non-EU current account balance (Seasonally adjusted)
Common sense shows we are exporting manufacturing jobs to the EU and that this imbalance is steadily worsening. The EU as Nicholas Ridley once said is a German racket organised and run to benefit the Germans. Nothing will change until we have the sense to leave and lo and behold the UK economy will perk up!

I do hope the Yanks mete out the same Xenophobic punitive fines to Volkswagen as they did to BP. The VW actions were no accident!

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