EU ‘single market’ does not benefit the UK but harms our economy

By April 8, 2019February 18th, 2021No Comments


Dear MP, we have condensed years of research into the Single Market into a few main points for you. The information comes from EU Commission and ONS publications.

UK benefits least from the Single Market out of all twenty-eight EU member states

“The UK is the Member State with the lowest trade integration in the Single Market for goods”

– EU Commission, Single Market Scoreboard, 2018

 UK benefits least out of the EU28 from membership of the Single Market

 Only 7.3% of UK GDP relates to UK goods exported to the Single Market

 For total trade integration the UK comes last

 For goods exports, the UK is second to last

The UK’s average growth rate has fallen since the Single Market began

If membership of the Single Market is great for jobs and the economy, then it should be possible to see increased growth after it started. After all, this is what the EU promised and still claims today.

Surely there will have been a noticeable positive effect when measured over a suitably long period, like fifty years?

UK average growth before and after the start of the Single Market

 25 years BEFORE Single Market started: 2.4% average annual UK growth

 25 years AFTER Single Market started: 2.2% average annual UK growth

The UK’s average annual growth rate has fallen since the start of the Single Market, not risen.

Some more quick & simple facts about the Single Market

Over 160 countries trade with the EU – and so will the UK – without membership of the Single Market

 After 25 years, it still doesn’t work – ‘unfinished and stalled’ [Major OECD report, 2016]

 The Single Market comes with unlimited immigration and subjection to EU laws you can’t vote on

The UK is the second-highest net contributor to the EU’s funds. In other words, the UK is the second-biggest payer, but at the end of the queue when it comes to benefiting.