British exit from EU would 'seriously damage growth'

Watch
MagicNMedicine
Badges: 20
Rep:
?
#1
Report Thread starter 7 years ago
#1
http://www.telegraph.co.uk/finance/e...ge-growth.html

A report commissioned by TheCityUK, which counts banks, insurance and accountancy firms as members, said an exit from the Union would “wreck” London’s position as a financial rival to New York.

Gerry Grimstone, chairman of TheCityUK, said: “Our research clearly shows that leaving the EU would seriously damage economic growth and jobs in the UK.

Quitting the EU would also leave British businesses less attractive to investors, with little influence and vulnerable to international regulations, the group said.
We ignore City firms at our peril. Yes its one thing having UKIP and their mates mounting an anti-EU campaign but they aren't the ones propping up the UK with their taxes...
1
reply
Aj12
Badges: 18
Rep:
?
#2
Report 7 years ago
#2
I struggle to see the real benefits of leaving the EU. UKIP and others complain about EU regulations but to trade with the EU we will have to follow them anyway. As much as they say we can trade with the rest of the world you'd be mad to ignore the countries around you, I am fairly sure we still do more trade with Ireland than the BRIC's combined.
0
reply
gladders
Badges: 16
Rep:
?
#3
Report 7 years ago
#3
(Original post by Aj12)
I struggle to see the real benefits of leaving the EU. UKIP and others complain about EU regulations but to trade with the EU we will have to follow them anyway. As much as they say we can trade with the rest of the world you'd be mad to ignore the countries around you, I am fairly sure we still do more trade with Ireland than the BRIC's combined.
I've asked a number to give me examples of EU regulations they object to and nobody has answered me yet.
0
reply
MatureStudent36
Badges: 5
Rep:
?
#4
Report 7 years ago
#4
(Original post by gladders)
I've asked a number to give me examples of EU regulations they object to and nobody has answered me yet.
There's quite a few. Employment relates, environmental, agricultural.

I can't think off the top of my head of a good example, but when you consider most of the laws passed in the UK are actually from the EU, it gives an ideA.

I'm unsure about Europe. Trade barriers are coming down everywhere in the world, so to say the leaving the EU would damage the economy massively is a bit of a mute point.

I'm all for reforming the EU. That seems to have a growing support base throughout Europe.

Even the French are starting to get annoyed with it saying its not working.

http://www.ft.com/cms/s/0/ce21f58e-b...44feab7de.html
0
reply
Georgie_M
Badges: 13
Rep:
?
#5
Report 7 years ago
#5
(Original post by MatureStudent36)
Even the French are starting to get annoyed with it saying its not working.

http://www.ft.com/cms/s/0/ce21f58e-b...44feab7de.html
Haha you don 't know much about the French do you? They are always annoyed.
0
reply
Georgie_M
Badges: 13
Rep:
?
#6
Report 7 years ago
#6
(Original post by MagicNMedicine)
http://www.telegraph.co.uk/finance/e...ge-growth.html



We ignore City firms at our peril. Yes its one thing having UKIP and their mates mounting an anti-EU campaign but they aren't the ones propping up the UK with their taxes...
Is this very strong evidence to support this hypothesis? I mean Europe trade outside the EU so you must not have to follow their rules in order to trade.

I don't like UKIP (for obvious reasons) however I'm not sure how I feel about the EU. Clegg isn't particularly convincing about the economic benefits and I would like to know more about it.
0
reply
Observatory
Badges: 20
Rep:
?
#7
Report 7 years ago
#7
Extremely unlikely. It might affect the GDP per capita level, but not its rate of increase. Persistent divergence in per capita growth among countries with similar economic institutions just doesn't happen. Even there, all the Western European countries outside the EU have higher GDP per capita levels than the Eurozone.
0
reply
Observatory
Badges: 20
Rep:
?
#8
Report 7 years ago
#8
(Original post by Aj12)
I struggle to see the real benefits of leaving the EU. UKIP and others complain about EU regulations but to trade with the EU we will have to follow them anyway.
That isn't true. The USA trades with the EU - do you think the USA's internal standards and labour policy are set by the EU?

If you think it's a question of relative GDP size, how about Japan or Thailand?
0
reply
Le Nombre
Badges: 16
Rep:
?
#9
Report 7 years ago
#9
(Original post by gladders)
I've asked a number to give me examples of EU regulations they object to and nobody has answered me yet.
It’s our 4.8 million smaller businesses that suffer from the burden of EU laws and regulations.
From 'A real alternative' section http://d3n8a8pro7vhmx.cloudfront.net...pdf?1398167812

Maybe UKIP have a very different understanding of burden to me, but that sounds like they object to them, even if they don't give specific examples. They give the specific example of the Common Fisheries Policy on the final page under 'Reclaiming our waters'. I seem to remember they wanted out of the Working Time Directive at the last GE, but that's not in this manifesto, presumably as there doesn't need to be anywhere near the detail for a Euro election as parties use for a GE.
0
reply
crayz
Badges: 0
Rep:
?
#10
Report 7 years ago
#10
Is it me or did everyone just overlook that New York isn't in the EU?
0
reply
MindTheGaps
Badges: 17
#11
Report 7 years ago
#11
Big business supports EU shocker!

Big businesses benefit massively from the EU. They can hire cheap foreign labour and drive down the cost of the their business and their nannies. They can even often profit from excessive regulation, which they have the clout to influence and the resources to cope with, whilst their smaller rivals suffer. They are all a bunch of selfish *******s who would sell their grandmothers if they thought they could make a profit. Yet they are allowed to cosy up to politcians and pose as economic sages. Corporatist is the word I would use.

Small business owners, on the other hand, mention EU regulation as one of the key issues holding their business back. They may not have as loud voices as the banks, but collectively they are much more important to our economy than the FTSE100. We ignore them at our peril.
2
reply
Psyk
Badges: 16
Rep:
?
#12
Report 7 years ago
#12
(Original post by gladders)
I've asked a number to give me examples of EU regulations they object to and nobody has answered me yet.
I actually find myself agreeing with EU legislation a lot of the time. Particularly when it comes to telecoms/internet related things. For example abolishing mobile roaming charges. And enforcing standard connections for mobile phone chargers (although I have an iPhone and Apple have effectively avoided it). Some of this just wouldn't happen if it was left at the UK level.
0
reply
brap man 420
Badges: 4
Rep:
?
#13
Report 7 years ago
#13
(Original post by crayz)
Is it me or did everyone just overlook that New York isn't in the EU?
Not yet but when the European empire gets here it will be.
0
reply
tengentoppa
Badges: 18
Rep:
?
#14
Report 7 years ago
#14
(Original post by MatureStudent36)
There's quite a few. Employment relates, environmental, agricultural.

I can't think off the top of my head of a good example, but when you consider most of the laws passed in the UK are actually from the EU, it gives an ideA.

I'm unsure about Europe. Trade barriers are coming down everywhere in the world, so to say the leaving the EU would damage the economy massively is a bit of a mute point.

I'm all for reforming the EU. That seems to have a growing support base throughout Europe.

Even the French are starting to get annoyed with it saying its not working.

http://www.ft.com/cms/s/0/ce21f58e-b...44feab7de.html
Where do you get that from? Estimates for the amount of legislation that comes from Brussels vary from 7-45%.
0
reply
MatureStudent36
Badges: 5
Rep:
?
#15
Report 7 years ago
#15
(Original post by tengentoppa)
Where do you get that from? Estimates for the amount of legislation that comes from Brussels vary from 7-45%.
To keep it simple we'll say 50%.

I've seen no real reduction in bureaucracy in the UK to deal with this fact.

I now have.

the council
The Scottish Government
Westminster
The House of Lords
Various EU organisations
The UN.

I'm seeing where the cutting of red tape benefitting business comes in now.

Amazingly though. Other free trade blocks don't have this level of red tape.
0
reply
Clip
Badges: 19
Rep:
?
#16
Report 7 years ago
#16
(Original post by tengentoppa)
Where do you get that from? Estimates for the amount of legislation that comes from Brussels vary from 7-45%.
Take a mid-point. 25%. Is it not of concern that the voters of a nation state have no stake whatsoever in fully a quarter of all primary legislation in the country?
0
reply
polscistudent88
Badges: 12
Rep:
?
#17
Report 7 years ago
#17
(Original post by Clip)
Take a mid-point. 25%. Is it not of concern that the voters of a nation state have no stake whatsoever in fully a quarter of all primary legislation in the country?
As if any single peace of legislation is backed by citizens. I don't think that even happened in Greek city states direct democracies.
0
reply
MUN123
Badges: 13
Rep:
?
#18
Report 7 years ago
#18
Most of the young people in the UK lack the language skills to move to another EU country for employment.
Whereas, I'm sure most young people in other EU countries have the required English language standard to move to the UK and work here.
Which leaves us with millions of unemployed young people in the UK.
It's really isn't fair on the young people of the UK to be left unemployed, English is the most spoken language. Most of EUs youth speak it they will benefit from the free movement of people.
1
reply
tengentoppa
Badges: 18
Rep:
?
#19
Report 7 years ago
#19
(Original post by Clip)
Take a mid-point. 25%. Is it not of concern that the voters of a nation state have no stake whatsoever in fully a quarter of all primary legislation in the country?
We do have somewhat of a say. We vote for MEPs, Cameron, who we elected, is part of the European council and another government minister is in the council of ministers.
0
reply
Rakas21
Badges: 21
Rep:
?
#20
Report 7 years ago
#20
(Original post by gladders)
I've asked a number to give me examples of EU regulations they object to and nobody has answered me yet.
This is something that grates me too. We have low unemployment and our growth rate matches the US.. I do wonder if we are really being held back because it does not seem like it. I mean, would our economy be growing at 4-5% each year if we left the EU.

I'd like to see a concrete macroeconomic analysis on the effects of leaving the EU rather than big vs small business.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How do you prefer to get careers advice?

I like to speak to my friends and family (23)
10.27%
I like to do my own research online using careers specific websites (133)
59.38%
I like speaking to the careers advisors at school, college or uni (30)
13.39%
I prefer to listen watch videos or listen to podcasts of people in my chosen career (33)
14.73%
Something else (let us know in the thread) (5)
2.23%

Watched Threads

View All