How has the UK economy done since joining the EU?
The cost of being in the EU annually for the UK is about 9 billion pounds after the rebate (about 11 billion dollars). The British GDP is 2.3 trillion pounds nominal (about 2.8 trillion dollars or 3.03 PPP). So annually the cost of being in the EU is 0.4% of GDP. If you bought a house and got a mortgage for 0.4% annually you would be doing very well. What are the benefits of being in the EU? Is it worth spending that money? See the article below from a group of Oxford Professors.
OF course, if the economic benefits of being in the EU have not been shared fairly that is the UK government's fault, not the EU's.
OF course, if the economic benefits of being in the EU have not been shared fairly that is the UK government's fault, not the EU's.
What about before joining the EU?
The growth effect
Britain joined what was then the European Economic Community in 1973 as the sick man of Europe. By the late 1960s, France, West Germany and Italy — the three founder members closest in size to the UK — produced more per person than it did and the gap grew larger every year. Between 1958, when the EEC was set up, and Britain’s entry in 1973, gross domestic product per head rose 95 per cent in these three countries compared with only 50 per cent in Britain.
After becoming an EEC member, Britain slowly began to catch up. Gross domestic product per person has grown faster than Italy, Germany and France in the more than 40 years since. By 2013, Britain became more prosperous than the average of the three other large European economies for the first time since 1965.
Nessun commento:
Posta un commento
Nota. Solo i membri di questo blog possono postare un commento.