With there being so much debate at the moment about the possible benefits of the United Kingdom walking away from Brussels without a deal, a 2017 report has been circulating online once again to show that the UK could stand to gain an astonishing £156 BILLION per year in the ‘no deal’ scenario.
The former director of the British Chambers of Commerce John Longworth has made this prediction, and it is worth remembering that this would be like having the entire annual budgets of the NHS and defence pumped back into Britain on an annual basis.
According to the original report in The Express:
NEW analysis has revealed that Britain would be better off by £156 billion a year by simply walking away from the EU without a deal.
Former British Chambers of Commerce director John Longworth has issued “a Brexit fight back” after Remainers have tried to capitalise on the hung parliament election result to claim that Theresa May’s vision of a clean Break with the EU is “dead”.
The annual boost – worth around a third in growth for the British economy – would continue for at least 12 years as Britain’s economy is transformed by throwing off the shackles imposed by Brussels.
It is the equivalent of adding the entire NHS and defence annual budgets back into the UK each year.
With France and Germany putting pressure on the UK to change its mind and Remainers attempting to force the UK to at least stay part of the Single Market under Brussels rule, Mr Longworth has released analysis on behalf of Leave Means Leave to show that Britain will be hugely better off even if talks break down.
He pointed out that just three measures; deregulation, the reinvesting the net UK contribution to the EU, and removing external tariffs to the rest of the world imposed by the EU, would amount to a 7.2 per cent boost to our economy, between £120 and £150 billion.
This is before extra boosts to the economy created by new free trade agreements being set up around the world.
Writing for the Daily Express online, he said: “This would be like increasing our economic growth rate by a third every year for twelve years!”
The point about these calculations coming before the extra impacts of new free trade agreements are taken into consideration is an important one, as it is clear that Britain would be in a position to drive for trade deals that are mutually beneficial to both parties.
This is as opposed to the current EU-based arrangements that have been set up to support the outdated fundamental ideas of the European Union.
Why can’t people just accept that although making individual free trade agreements will form a huge task that requires significant government resources, the long-term benefits will more than make up for this.
The reality is that walking away without a deal would be a platform upon which Britain could build upon – a potentially bumpy road to begin with that right-minded politicians would surely see as an ‘opportunity’ and not the disaster that Remoaners would have us all believe.