The hypocrisy of our politicians knows no bounds. David Cameron. who said “he loves his country”, was given a standing ovation in parliament by the Conservative Party members when he finally resigned as Prime Minister. Yet he and his followers in the “remain” campaign comprehensively deceived the UK voters by not telling them their commitment to staying in the EU was making UK taxpayers currently liable for:
Payments to the EU of over 1 Trillion Euros
And, in the future:
Supporting the 30+ Trillion Euro cost of EU Pensions
All for practically nothing, as:
There is virtually no benefit to UK Trade with the EU through being in the EU
1. Current UK Liabilities to the EU
In his report, “The UK’s liabilities to the financial mechanisms of the EU” published by the Bruges Group, Bob Lyddon, of Lyddon Consulting Services Ltd., concludes that:
“The net effect (of leaving the EU) would be a need to refinance GBP30 billion via the UK Debt Management Office, thus increasing the UK’s direct national debt whilst releasing the UK from contractual commitments up to € 1.23 trillion and the inferred obligation to offer “extraordinary support” of an unlimited amount above that.” (My emphasis)
The case for leaving the EU immediately to avoid heavy payments to the EU is therefore overwhelming.
The best way this can be achieved is by repealing the 1972 European Communities Act. In doing so it would be mainly to the EU’s advantage for the UK to offer to retain existing tariff free trading arrangements for, say, 5 years or until formal trading arrangements are agreed. This offer will in fact cost the UK £billions as the UK will lose the import duty on goods imported from the EU. (NB It should be noted that there are strong arguments to support the contention that joining the EEC in 1973 was in any event illegal, making all subsequent EU treaties signed by the UK invalid.)¹
2. Additional UK liabilities for EU Pensions
There is apparently a massive “hole” looming in the pension funding for many EU countries according to a study commissioned by the European Central Bank. The 18 EU countries examined in the report compiled by the Research Center for Generational Contracts at Freiburg University in 2009 had almost 30 trillion Euros, (equivalent to 1 million euros/UK taxpayer), of projected obligations to their existing populations. As the UK generally pays about 16% of the EU’s total contributions this implies that the UK would be exposed to contributing a minimum 160,000 euros for each UK taxpayer over their working life to support the EU’s pension liability.
Germany accounted for 7.6 trillion Euros and France 6.7 trillion Euros of the liabilities, authors Christoph Mueller, Bernd Raffelhueschen and Olaf Weddige said in the report. The largest pension liabilities in %GDP can be found in France (362.2%), Austria (359.9%) and Germany (329.6%). This was before the massive influx of immigrants into Germany and the EU generally.
The UK had the lowest pension liability of those examined at 91.2%. Despite this the UK pensionable age is likely to rise to 68 from 60 in a few years. What does that say about the pension prospects for countries like France, Poland, Austria and Germany with pension liabilities which are over 3 times their GDP?
In addition, it is predicted that whilst there are currently 4 people working in the UK for every pensioner this will drop to 2 people/pensioner by 2050, thus doubling their liability.
3. UK trade with the EU
Michael Burrage, in his report “Where’s the insider advantage?” published by Civitas, showed that there is no case in which EU membership is good for UK exports or for foreign direct investment. EU membership for the UK is therefore a colossal waste of our time and money!
It is therefore totally incomprehensible why politicians from three of the main political parties were, and many still are, determined to subject the UK taxpayers to paying the EU vast sums of money on demand by the EU over which the UK has no control whatsoever, for “trade” which has already cost the UK economy £billions.
For example, in 2014:
- The UK exported £228 billion worth of goods and services to the EU.
- But, it cost the UK economy in the region of £190 billion² to be in the EU.
- UK trade with the EU resulted in a balance of payments deficit of £61.6 billion.
Hence, in 2014 alone it could have cost the UK over £23 billion more to be in the EU and trade with the EU than the UK’s total exports in goods and services to the EU!
Since the UK joined the EEC in 1973:
- The total current accumulated balance of payments in UK/EU trade is a deficit of over £1.25 trillion.
- Whereas the UK has had a surplus in its trade with the rest of the world.
- Not only that, the UK has so far paid the EU net budgetary cash contributions currently worth £415 billion.
Is it any wonder therefore that the UK has a national debt of over £1.75 trillion?
Politicians, like Cameron, Osborne, Theresa May, Nicola Sturgeon etc. all vigorously promoted the UK’s membership of the EU in the recent referendum. Not once did any of them appear to make clear to the general public the vast costs involved in continued EU membership or the huge losses we incurred through trading with the EU. As government representatives they were all allegedly wilfully and deliberately deceiving the UK public and the voters. Should they therefore all be tried for alleged malfeasance in public office.
The legality of joining the EEC in 1973 is also highly questionable. Lord Kilmuir’s letter to PM Edward Heath in 1972, referred to in Petition No 122770, must be thoroughly investigated by means of a Royal Commission and action taken against the Conservative, Labour and Lib Dem parties for perpetuating our EU membership if this is confirmed to have been illegal.
1 Rodney Atkinson: Leaving the EU we joined illegally
2 Tim Congdon 2015: “How much does the European Union cost Britain”
[Ed: The author published this article first on his Facebook page.]