David Campbell BannermanThere are reams of unnecessary red tape in the form of EU laws, such as the Working Time Directive, Agency Workers Directive and related excessive Health & Safety and Employment legislation which bear most heavily on small businesses, the life blood of jobs and the economy, which as cost the British economy many more jobs. Major plants producing steel, aluminum, chemicals and electrical power are being hamstrung by the implementation of excessive and unrealistic emissions targets.

Britain is prevented by the EU State Aid provisions from for example, spending British tax payers money saving a car industry (the EU prevented the UK saving Rover) or more post offices or the Royal Mail or helping a bank to survive. Unelected Commissioners have the power to veto such decisions. EU procurement rules require large contracts to be advertised EU journal which enables foreign contractors to bid for and win contracts that could have gone to British companies thereby reducing our Corporation Tax receipts and increasing our numbers of unemployed.

The ‘Golden Shares’ in major privatised UK companies which prevented them from being sold overseas were banned under EU rules (except for defence companies) causing many important British companies running British infrastructure have been sold to foreign companies.

Britain now has an ‘empty chair’ at the World Trade Organisation (WTO), where we are a member but cannot do any of our own trade deals, as we have surrendered to the EU the power to negotiate all trade deals on our behalf.

The EU is at heart more protectionist and interventionist than the UK and we are unable to negotiate trade agreements with other nations, including emerging economies such as Brazil and China and 13 of the fastest growing world economies in the Commonwealth which would provide more free trade and be better tailored to the needs of the British economy and our exports. The EU’s semi-imperialist ‘Economic Partnerships Agreements’ (EPA’s) have drawn withering criticism from developing nations particularly in Africa and Caribbean and are unfair to these emerging nations.

We are no longer able to set up our own trade agreements with the countries of the Commonwealth which will go from strength to strength. Currently, the Commonwealth numbers nearly 2 billion people and includes 13 of the world’s fastest growing economies. By 2015, the Indian middle class alone will number a staggering 267 million people. Indeed, leading economist Willem Buiter of City Group predicts that India will supplant China to become the world’s biggest economy in 2050. Because of our EU membership, we are unable to seek far more advantageous globalised visions, for example, to pursue the concept of a Commonwealth Free Trade Area.
Extracted from the book The Ultimate Plan B by David Campbell Bannerman MEP

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