by Callum Anderson
In less than a couple of months, UK voters will go to the polls to elect their representatives in Brussels. In the event of a strong UKIP performance, it is likely to put yet more emphasis on the potential referendum on Britain’s EU membership.
And that’s in addition to the exposure the issue has received as a result of the debates between Nick Clegg and Nigel Farage.
As I have already argued, it is my strong belief that the UK needs to play at the heart of a reformed EU and resist the temptation to ‘pull up the draw bridge’. As was teed up by the Budget a couple of weeks ago, the economy is the issue that concerns the vast majority of voters: jobs, real terms wages and taxes will be the particular battlegrounds. Like it or not, Britain’s ability to build a strong and resilient economy lies in its ability to form and maintain relationships with other nations. None of this is more evident than the relationship with the EU.
Now, I know Nigel Farage and his fellow Eurosceptics can sometimes be a little short on facts, but let me shed some light.
Let me start off with trade.
Business for New Europe recently found that the growth in free trade within the EU has generated as much as 6 per cent for every British household, equivalent to £3,500 every year. A not too insignificant figure. This is clearly because UK businesses have access to the richest and biggest single market in the world. And it’s not just that. The UK benefits from the EU conducting free trade deals on its behalf, and undoubtedly obtaining deals on better terms than if it negotiated alone.
For instance, the EU-South Korea Free Trade Agreement has benefitted UK businesses to the tune of £500 million a year. The Centre for Economic Policy Research (CEPR) has also found that a EU-US Transatlantic Trade and Investment Partnership (TTIP) could boost UK national income by up to £10 billion a year, with our automotive industry benefiting most, thus creating the manufacturing jobs that Britain has needed for a generation.
So, what effect does this have on jobs?
