Should Britain Leave the EU?
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Should Britain Leave the EU?

An Economic Analysis of a Troubled Relationship, Second Edition

Patrick Minford, Sakshi Gupta, Vo P.M. Le, Vidya Mahambare and Yongdeng Xu

This second edition brings up to date a thorough review of all economic aspects of the UK's relationship with the EU, which also puts it in the political context of the upcoming referendum. It notes the intention of the EU to move to 'ever closer union' and the nature of the regulatory and general economic philosophy of the dominant countries of the EU whose writ is enforced by qualified majority voting. The book highlights the UK dilemma that, while extending free markets to its local region is attractive, this philosophy and intended union are substantially at odds with the UK's traditions of free markets and freedom under the common law. BOOK LAUNCH: http://www.iea.org.uk/events/launch-new-edition-of-should-britain-leave-the-eu
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Chapter 4: The cost of EU trade policies for the UK

Patrick Minford, Sakshi Gupta, Vo P.M. Le, Vidya Mahambare and Yongdeng Xu

Extract

In Part II of this book we will review rather thoroughly the latest statistics on trade and protection for agriculture, manufacturing and services. In this chapter we attempt to pull the threads together and make an estimate of the overall costs to the UK of the EU’s trade arrangements, which can be broadly described as a customs union for manufactures together with an elaborate and expensive system of protection for agriculture. As for services, there is no EU trade policy but merely a continuation of national systems of protection; whether we are in the EU or out of it, this remains the same and so we disregard services in our calculations.

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