Newspaper article The Evening Standard (London, England)

Britain Wouldn't Vote to Join EU, So Why Should We Elect to Stay In?

Newspaper article The Evening Standard (London, England)

Britain Wouldn't Vote to Join EU, So Why Should We Elect to Stay In?

Article excerpt

Byline: Gerard Lyons

The City on Brexit F we were not in the EU, would we want to join it? I doubt it.

IThe EU's recent track record is far from impressive, highlighted by the eurozone's poor growth and criticism that it suffers from a democratic deficit.

But if we wouldn't want to join, why, then, should we vote to remain in it? Moreover, a vote for Remain is not a vote for the status quo. It is worse than that and would bring considerable future uncertainty. Here's why: |The EU will change, but not in the way we want.

We continue to be told we can reform the EU if we remain in. This is nonsense. We were not able to achieve meaningful reform during our renegotiation over the past year. Following the referendum, we will have even less bargaining power.

The EU will continue towards its long-run goal of a United States of Europe.

That means more political power creeping towards Brussels, and greater empowerment to bureaucrats there. The loss of UK sovereignty, already a worry now, would become an even bigger problem.

The euro is unstable and could collapse.

The euro is as unsteady now as it was when the UK decided not to join. The Greek crisis has yet to come to a head but could. This could be followed by an Italian crisis. The euro feeds a deflationary mentality within the EU, contributing to its weak growth and high unemployment and to the rise of extremist political parties across the EU.

We would have tied ourselves to the slow-growth region of the world economy.

Innovation is a vital contributor to growth. EU regulation and its bias towards big firms, who lobby Brussels extensively, acts as a deterrent to innovation and will put the EU and UK at a future disadvantage to the US and Asia.

If we remain we will not have a sensible migration policy.

The solution to slow growth for many EU countries is to accept more migrants; witness Germany in 2015. …

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