Right so the £9billion (Net) we pay to the EU is just for Junkers wine cellar then
The government’s own forecasts say that growth over the next 15 years without a deal will be 10% lower than it would otherwise have been.
Analysis showed that under WTO rules, British exports to the EU would be hit by tariffs of £6bn (roughly two-thirds of Britain’s net contributions). Imports were also likely to be affected, increasing the cost of living in the UK.
A no-deal Brexit could cost the UK £2.2bn every year as the network connecting the nation’s electricity supply with its European neighbours would no longer function effectively.
Nearly three-quarters of UK automotive businesses believe that a ‘no-deal’ Brexit would harm their future viability – with the head of the Society of Motor Manufacturers and Traders again warning that failure to leave the European Union without an agreement would lead to plants being shut and jobs lost. And that’s just the car industry.
Bear in mind that UK GDP was 2.04 trillion pounds in 2017. The economic impact of leaving the EU on a NO DEAL according to government estimates would be 204 billion pounds a year after ten years.
The economic benefits that we get from our membership are well worth the comparative small 9 billion annual contribution.