Contents: PART I UK COSTS AND BENEFITS OF EU MEMBERSHIP 1. Introduction, The UK’s Relationship to the EU, The Aim of this Book and Policy Conclusions 2. The Costs of EU Regulation 3. The Cost of the Euro 4. The Cost of EU Trade Policies for the UK PART II RECENT TRADE DEVELOPMENTS- FACTS AND ANALYSIS 5. Agriculture 6. Manufactures 7. Services Bibliography Index
Patrick Minford, Professor of Applied Economics, Cardiff Business School, Cardiff University, UK with Sakshi Gupta, Economist, CRISIL, India, Vo Phuong Mai Le, Lecturer, Cardiff Business School, Cardiff University, UK, Vidya Mahambare, Associate Professor of Economics, Great Lakes Institute of Management, Chennai, India, Yongdeng Xu, Researcher, Cardiff Business School, Cardiff University, UK
‘The policy framework advocated by Minford et al. . . is grounded
in economic theory and an incisive empirical analysis of the costs
of UK’s membership of the EU. Their thesis that the EU is a
political union practising economic protectionism in the guise of
gradualism towards free trade makes sense. . . Minford and his
associates’ analysis suggests that the EU’s policy framework of
free trade for members but restrictions on trade of non-members
with the EU countries is a second best policy adopted to promote
political rather than economic objectives.’
*V.N. Balasubramanyam, Lancaster University, UK*
‘The EU got the Nobel Prize for Peace in 2012, but such an award is
not forthcoming for economics. In fact, the EU faces a stern public
discontent throughout Europe. For years EU leaders have been unable
to agree on almost anything. The eurozone’s toxic monetary embrace
is a colossal failure that has provoked misery in most of the
participating countries and, worst of all, suffocated the hopes of
prosperity for many years to come. The EU is no longer a venture
that inspires people to run on barricades to defend it. Should
Britain be a part of the crumbling EU project? This book provides a
timely and documented answer. It is highly recommended
reading.’
*Miroslav N. Jovanović, University of Geneva, Switzerland*
‘Much too much of the debate about the UK’s relationship with the
European Union relies upon general declarations unsupported by
facts and assertions and claims not substantiated by evidence. This
is why we need so badly the careful quantitative analysis provided
by Patrick Minford and his colleagues. The UK electorate will have
a momentous decision to take when the EU referendum takes place.
History and emotions will be important, but getting the facts
straight is even more vital.’
*John Mills, Founder and Chairman of JML and Co-Chairman of
Business for Britain*
'Patrick Minford and his team have performed a hugely valuable
service by quantifying the costs of Britain’s EU membership. In
particular, they show that Britain pays too much for too high a
proportion of its imports. The EU’s protectionism in its trade with
the rest of the world costs Britain a significant slice of its
national output. Their demonstration of this vital point is
thought-provoking and sophisticated, and greatly strengthens the
case for the UK to leave the EU.'
*Tim Congdon, CBE, International Monetary Research Ltd*
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