Saturday, 11 June 2011

EU - Gateway to prosperity?

In tomorrow's Sunday Telegraph Christopher Booker, in his column, writes:
"A proposal by MEPs for a further hefty increase in the EU’s budget could mean, we are told, that our contributions will rise by 2020 to “£700 a year for each British family”. But there is a mystery here. If we look at Table 9.1 of the Treasury’s Pink Book, we see that in 2009 (the latest figures we have) our payments to “EU institutions” were already £17.4 billion – which equates to nearly £700 for every household. This is quite apart from the tens of billions that our EU membership drains each year from our economy in regulatory and other costs." (emphasis and link, mine) (Click on 2010 which provides data for 2009)
 From Chapter 9 (page 126) it is also worth noting:
"Current account by region
Current account surpluses were recorded with the Americas, and Australasia & Oceania in all years from 1992 when data became available. The current account surplus with the Americas increased from £10.8 billion in 2008 to £14.9 billion in 2009. In contrast, the UK has consistently recorded a current account deficit with Europe, rising to a record £54.3 billion in 2006, before narrowing to £17.3 billion in 2008. In 2009 however, this deficit widened by £5.7 billion to £23.0 billion."
which probably explains the reluctance of our political elite to provide us with a cost/benefit analysis of EU membership.

Just saying......................

1 comment:

paulsc said...

Couldn't agree more regarding the lack of a cost benefit analysis.