Why We Will Be Better Off Out

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John Redwood’s Latest Blog discusses the main arguments supporting Brexit

1 We will be able to spend £10bn a year on our priorities instead of sending that abroad and not getting it back. That adds 0.6% to our GDP.

2. We will regain control of our fishing grounds, which will enable us to rebuild our fishery and return to being net exporters instead of net importers of fish.

3. We will be able to buy more of our food free of interventions by the EU designed to cut UK output and foster EU  imports. Past EU milk quotas and their response to BSE did damage to our dairy and beef farmers. Our food will be cheaper.

4. We can have our own energy policy geared to delivering more cheaper power. This means more of our income to spend on other things, and will be a big boost to industry which relies on energy.

5. We will be able to disapply  costly and unhelpful regulations  and EU requirements on all domestic business and exports to non EU destinations if we wish, whereas in the EU every rule has to apply to everything we do.

6. We will be free to negotiate our own trade deals with other countries, including the US one Mr Obama confirmed.

7. Our balance of payments will improve when we stop sending such large contributions to the continent.

8. There is no evidence that our growth rate accelerated when we joined the EEC, nor is there any evidence of much boost to our output from being in the Single market. The single market was completed around the same time as the European Exchange Rate Mechanism, a cost of EU membership, which slashed output and incomes very badly in the UK before we got out.

Click here to read this piece in John Redwood’s diary

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