An eye-opening report has just been released from the cross Brexit think-tank, Centre for Brexit Policy (CBP). The report that was released this morning breaks down the impact on the UK if Boris was to go down the Extension route. The CBP said: “An extension of British membership of the European Union beyond the end of this year would be an act of madness that would cost the country up to £1 trillion and torpedo efforts to recover from the Covid-19 emergency.”
The think tank then breaks down at least five massive potential bills that would fall on the UK if ministers were to bow to and Extension.
These five bills are:
- Continuing payment of the UK contribution of £11 billion a year net to the EU budget
- Likely loss of lucrative free trade agreements (FTAs) from beyond the confines of the 27-member EU bloc
- Loss of savings from better, UK-controlled business regulation
- Loss of savings from better control of unskilled migration
- Huge potential liabilities for bailing out a bankrupt Eurozone and likely extra cash demands from Brussels by becoming entrapped in the new EU budget cycle that begins on January 1 next year
The EESC goes on to say: “Now is the time when we must register real concrete progress in all areas of negotiations, pushing aside roadblocks with a constructive spirit. We cannot afford once more another deadlock in the three areas where progress is needed.”
“Only a strong level playing field guarantees the prevention of any kind of unfair competition in a broad and comprehensive economic partnership. Modern trade is sustainable trade.”
“A single governance framework to avoid unnecessary duplication and inefficiencies, ensuring transparency and proper enforcement.”
The CBP report states if the UK were to fall into the “delayer trap” a two-year delay would cost £380 billion to the British taxpayer. If during that delay, Brexit was eradicated, the cost would rocket to £4.6 trillion.
The Brexit delay would be another attempt to deny democracy four years after the vote to leave.
Mr Paterson warned: “Britain is like a man standing by an unexploded bomb. The bomb is ticking, louder and louder. The prudent step is not to fiddle with the bomb. The prudent step is to retire to a safe distance.”
Mr Longworth added: “We just cannot afford to extend the transition period. It will cost us around £400 billion at least, quite likely much more. The combination of these eye-watering costs and continued subservience to EU rules would wreck any chance we have of restoring our fortunes as a nation as the pandemic subsides.”
With these figure being presented, is it any wonder why the EU wants to keep the UK as its cash cow under lock and key. EVIDENCE