One of the marvels of the age is how our politicians continue solemnly to parrot the mantra that, if Britain left the EU, she would be left in bankrupt isolation, when the two countries that have twice voted in referendums not to join the EU – Norway and Switzerland – are today richer than any of us.

As Patrick Minford has pointed out, leaving the EU\’s customs union would increase the UK\’s GDP by some 3%. We\’d be richer, not poorer.

3 thoughts on “Quite”

  1. There are two myths underpinning EU economic policy. One is that a state has to have a large home market to deliver wealth to its people. Wrong – though it is true that a state has to be large in order to deliver large tax revenues for the politicians to spend on prestige projects. The other – less well-known – is that islands have economic disadvantages and need special help. This is also wrong – islands develop trade by necessity and then can trade with the world. Iceland is as rich as the other Nordic states, despite being both isolated and outside the EU. Not having an army and a nvay probably helps too.

  2. Re what JW says, we were on holiday in Malta this year (which only recently joined the EU), it has f*** all natural resources apart from access to open sea and sunshine, but they seem to be doing all right. Which supports JW’s point, FAOD.

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