EU Membership Vital for Our Economic Growth

The Journal (Newcastle, England), October 1, 2013 | Go to article overview

EU Membership Vital for Our Economic Growth


Byline: NEIL WARWICK

YOU may remember the famous Monty Python sketch "What did the Romans ever do for us?".

The punch line is a long list of Roman inventions that were taken for granted and yet greatly improved the civilisation of countries in their Empire.

With less than two years until the general election, the debate as to whether the UK should remain a part of the EU will continue. Undoubtedly, membership of the EU will become an important yardstick not only for the major parties, but also for a number of the so-called fringe parties.

It is equally likely that the level of sophistication of the analysis of our EU membership will at times seem like a re-run of this Monty Python sketch. The fundamental rationale for creating the EU was to avoid war in Europe.

In fact today, many of the so-called 'banned' sectors which cannot receive financial support from EU structural funding, such as steel, coal, forestry, and nuclear, are still ineligible for public subsidy as they were seen as sectors which provided the infrastructure for the tools of war.

The EU is currently, notwithstanding the on-going eurozone crisis, the largest single trading market in the world and the closest market to the UK.

To deliberately choose to limit access to the trading possibilities it provides would seem a foolish risk to take. Continued growth in this decade will rely on our ability to export as well as attracting inward investors, both of which are largely dependent on our continued membership of the EU. …

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EU Membership Vital for Our Economic Growth
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