The EU Single Market stopped being an asset for UK goods exporters a decade ago. Today, UK exports of goods to EU have stalled, imports are surging, and services don’t cover the deficit. The UK's global trade is far healthier — and for good reason.
UK goods exports to EU stalled in 2008
Exports to countries outside the EU are growing quickly
The £85 billion deficit in goods trade with EU worsens by £10 bn every year
The US does a better trade with EU than UK — and th...
The Single Market is supposed to attract investment, turning UK into a springboard for exports to Europe. One glance at the UK vehicle industry shows the reverse. Today, EU supplies 85% of your accelerating vehicles imports, while exports to EU are stationary.
In 2015, the UK trade deficit in vehicles with EU hit a record £28.5 billion
Today, your three top-selling cars are imported from EU
UK motor vehicle exports outside the EU have grown 12% per year since 1998
Brexiteers are reviving classical liberalism in UK. Their views on regulation, trade, markets and foreign policy are identical to nineteenth century liberals. As a political group, they deserve to survive the referendum.
Over-regulation was also a prime target for 19th century liberals
Pre-war Liberal Party believed global free trade offered UK best prospects
Liberals hated high tariffs and rigged markets, because they cost workers money
Your financial services are anti-Brexit but their EU exports don’t pay for your EU trade deficit. UK services are more successful exporting outside EU, with creative and IT services growing fastest. Their safest course lies outside the emerging Single Market in services.
Service industries export 55% more to countries outside EU than inside
Finance brings an EU surplus of £10 bilion per year: just 12% of your deficit in goods