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March 28, 2005

The Joys of the European Union.

I’ve written before about Patrick Minford’s upcoming book on the economics of our membership of the European Union, and now that the book is near publication we’re beginning to see some press interest. From today’s Telegraph:

Well, you may say, it's not good but how important is it all to us? The answer is: far more important than the Common Agricultural Policy over which we rightly make a huge fuss. The CAP costs us between 0.3pc and 1pc of GDP in excess costs of UK production, payments to inefficient EU farmers, and the burden of high prices on our households.

The "common manufacturing policy" costs us about 3pc of GDP in similar costs; a lot more than raw food because it is so much bigger both as an industry and as an element in our household budgets. This is not chickenfeed: 3pc of GDP is some £30billion, almost half the cost of the NHS.

What can be done about it? The EU controls trade policy entirely; effectively it also controls competition policy where it involves foreign competition. The only way we can eliminate these costs of protection, unless the EU changes its policies, is to opt out of the EU's trade and competition regime and adopt unilateral free trade.

The pre-proof version of the entire book is webbed here.

March 28, 2005 in European Union | Permalink

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» EeeUuugh! from Samizdata.net
Here are a few items concerning the various ghastlinesses of the EU. First, a briefing paper from the Instituto Bruno Leoni, by Alberto Mingardi and Paolo Zanetto, about the Microsoft versus EU case. Pdf only, alas, but worth a look. Microsoft stands a... [Read More]

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» EeeUuugh! from Samizdata.net
Here are a few items concerning the various ghastlinesses of the EU. First, a briefing paper from the Instituto Bruno Leoni, by Alberto Mingardi and Paolo Zanetto, about the Microsoft versus EU case. Pdf only, alas, but worth a look. Microsoft stands a... [Read More]

Tracked on Mar 29, 2005 1:25:03 AM

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