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The Economic Cost of EU Membership

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Institute of Economic Affairs

Institute of Economic Affairs

Күн бұрын

Patrick Minford CBE, Cardiff Business School, considers the costs of UK’s EU membership.

Пікірлер: 481
@josearoso9197
@josearoso9197 4 жыл бұрын
A lot of people inside the EU are fed up with the polititians in the UK. KICK THEM OUT! NOW. No deal!
@joc3342
@joc3342 4 жыл бұрын
Yes, please do. We cant WAIT to get out. Its the politicians keeping us in. The people want OUT.
@simonclare100
@simonclare100 4 жыл бұрын
If you believe in the EU you need to read more, get informed Jose
@trevorford9432
@trevorford9432 4 жыл бұрын
If life was that simple, 17.4 million people would thank them for doing that. Unfortunately it's the colour of our money they like ☺ not us.
@bensteel3944
@bensteel3944 4 жыл бұрын
The reason we are leaving Jose is that we are informed and I suggest you do the same because it's not going to be good for you once we leave. You will be sucked into a federalist state with nowhere to turn. The sooner these bastards are brought down the better for Europe.
@caseybaker2363
@caseybaker2363 4 жыл бұрын
Jose I bet you're from some sunny shite tip EU country where everyone is either a waiter on unemployed! 2 world wars, 1 world cup. Bollox to the EU!
@trevormj
@trevormj 3 жыл бұрын
What we are finding out is the true cost of trading with the EU as a 3rd country - makes the net contribution look trivial.
@roygregory8334
@roygregory8334 4 жыл бұрын
Funny I've never seen this gentleman on BBC question time.
@pandora8478
@pandora8478 3 жыл бұрын
That’s bc they had Farage on all the time
@roygregory8334
@roygregory8334 3 жыл бұрын
@@pandora8478 Ha haha. You're funny.
@TimTim-jf3pk
@TimTim-jf3pk 4 жыл бұрын
We need out asap
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Why?
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Well go then!!
@ryanlewis5845
@ryanlewis5845 2 жыл бұрын
He actually suggested with a straight face that the economy of Singapore lacks intervention
@jacobisrael4413
@jacobisrael4413 4 жыл бұрын
ARE WE PEOPLE BLOODY FOOLS THIS MAN TELLING US THE TRUTH
@bryangeake5826
@bryangeake5826 4 жыл бұрын
If you want a totally de-regulated free for all with almost no worker, consumer or environmental rights and safeguards, it will be a world Dickens wrote about and Marx warned about! Local services will have to be cut back to tokenism, or simply go, the NHS will be privatised, we will essentially have a defence capability that will be sub-standard and Putin's nuclear bombers can probe our airspace almost at will and when the poor get poorer and the rich consolidate their privilege and power base (aka de-regulatory Rees Mogg), that is the down side of this 'free trade' and 'free booted nation' this economist is talking about. His vision will not necessarily translate into a 'wealthier county! He neglects to mention that it is a known economic fact that for every £ we put into the EU our GDP benefits by £6 as a consequence of the multiplier effect of having free trade (non tariff) access to the second largest economic block on the planet!!
@johnhooper7040
@johnhooper7040 4 жыл бұрын
No he giving a very biased free market economics view of the future, so loved of the alt right in the US. It will only benefit the rich, like the Tory Brexiters, and will decimate the welfare state and NHS and leave ordinary people far worse off. His views are dangerous and should be resisted at all costs.
@bryangeake5826
@bryangeake5826 4 жыл бұрын
@@johnhooper7040 He is, the European question is not really economic. In that the EU will , in all probability continue to succeed in the future and though it has problems of a currency that is too strong for some and advances export lead economies like Germany the essential fact is does the UK want to be part of a successful European project, and loose some sovereignty, or does it want to retreat and become more disconnected from Europe. Its an emotional matter, Leavers want to do that, its a suspicious islandism that boarders racism and certainly has xenophobia at its core. My view is that this rise in nationalistic islandism is retrograde, it leads to isolationism, that will never make us better off, it will damage the UK's standing in the world and the lot of the people in all probability. As I see it is an opportunity for the De-regulationalists like Rees Mogg and Minford to essentially re-boot this county into a free wheeling economy that will greatly advantage the rich and and those at the bottom of the pile life will be brutish and short! It will be not dissimilar to the world that Dickens wrote about and Marx warned about.
@Zoroaster1996
@Zoroaster1996 4 жыл бұрын
@@bryangeake5826 It is not a 'known economic fact' that we make a huge profit out of being a member of the EU, as we have nothing to compare it to. There's no logic in suggesting that without the EU to mediate, international traders and European governents would pointlessly inflate prices. The EU don't do anything that couldn't be done without them.
@bryangeake5826
@bryangeake5826 4 жыл бұрын
@@Zoroaster1996 It is, we can trade without tariffs or customs checks in the EU, capitol and people (labour) can move unhindered, so yes for every £1 we pay to the EU, irrespective of what grants are given to the UK for community and infrastructure projects (Wales is a net beneficiary) we have a multiplier effect of about 6! Thats fact. The issue is that there is an EXTERNAL EU tariff, if your outside the EU operating on WTO rules (which we will if we Hard No Deal Brexit) and we will be subject to it! the WTO is a crude leveling system to stop tariffing becoming too exaggerated. We greatly benefit in operating in the second largest economic block in the world tariff free!!! Simply your wrong!
@louisbanaszak3125
@louisbanaszak3125 4 жыл бұрын
let face it we are paying more and more and no say
@iainlewis9031
@iainlewis9031 4 жыл бұрын
You haven't got a say! About this NATION! & what is does or doesn't do!!
@iainlewis9031
@iainlewis9031 4 жыл бұрын
You Don't have any say what or how the government spend the money they borrowed from INM FUND BANK!!! SO that's your money! Really?
@iainlewis9031
@iainlewis9031 4 жыл бұрын
How it spend money !! You have no say. So it's Not YOUR MONEY. & HOW can you say it My money! Then spend it on something , like CHRISTMAS, for the needy, & poor. Because all greedy people, only care for themselves, & fuck off everybody, didn't the milk snather teach the British how to be selfish!
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Well that's what happened to every tax payers
@iainlewis9031
@iainlewis9031 4 жыл бұрын
What to the Tory scum!!
@johnstroud3448
@johnstroud3448 6 жыл бұрын
This man like Jacob Ress Mogg is giving you the actual truth. Where you have Somebody like May Blair or Kinnock going for remain, it`s always`s advantageous to themselves, not always something immediately visible, never the less, it`s there and it`s financial, it`s always about money
@mclanaford2957
@mclanaford2957 4 жыл бұрын
john stroud Hear Hear
@johnhooper7040
@johnhooper7040 4 жыл бұрын
So you don't think the wealthy Tory and other Brexit supporters like Rees-Mogg, Farage, Johnson et al won't be making a great deal of money by the UK leaving the EU and they will have the added bonus of escaping from future EU crackdowns on tax cheats and they now have the opportunity to complete the Thatcherite economic program with low taxes for the rich, ie themselves, their friends and party donors while maintaining austerity for ordinary people with the welfare state and NHS under threat.
@1SpudderR
@1SpudderR 4 жыл бұрын
John Hooper Hmm. Hmm..? What is wrong with making money....Hey...The EU takes more than enough from the UK.....Talking about Neil Kinnock...he left the UK MP System and got a much higher paid EU MEP package, and then I believe his wife also has a highly paid job somewhere there. So I have knocked down your first wicket, not intending to be aggressive just Common sense use of information by converting it into practical use and gaining important comparisons about money and how it is acquired. Oh and by the way...if the UK were to remain trapped in the EU....Their annual fees will keep going up out of proportion to the benefits that the UK receives. And we have still been paying into the EU Coffers for the last three years at about £1,000,000,000 that is about One thousand million Sterling per “month” Net! So rethink your strategy on money and where it goes ...Where Into The EU no one knows? But into the Great British Union it is traceable and therefore Usable intelligently. One Billion Pounds Sterling every month from The UK disappears into the EU coffers and no one knows where it goes...Every month, after month, for the last three years, what about the next three years? How much will the UK be expected to pay into the EU! Nothing I hope, above fair trading amounts! Now that seems to me like a good solid decision for All The UK Taxpayers how could You not Agree about that....£166 every month paid out by the UK 60,000,000 citizens government, into the EU with no return or accountability! Hmm now that got me thinking...how about you? RDR
4 жыл бұрын
@@1SpudderR Shut the fuck up you stupid ignorant lying prick.
@johnhooper7040
@johnhooper7040 4 жыл бұрын
@@1SpudderR There is nothing wrong with making money as long as it's not at the expense of others less fortunate. The free market/free trade future advocated was all very well when the UK was a global empire which with the strength of the Royal Navy and the wealth of the City of London could trade on advantageous terms across the globe. Don't forget the cost of that free trade. The agricultural depression that almost destroyed British farming and left us very vulnerable and we nearly starved in the two world wars. We also incurred huge debts to the USA which wrecked our economy. The EU is keen on food security and so should the UK. If that means subsidies to farmer and tariffs on food imports that is a price worth paying.The world is a very volatile place today. Add in climate change and the hatred still felt against Britain by our former colonies. Post Brexit Britain will not be an pleasant place to live. Fine if you are Rees-Mogg, Farage, Johnson et al with the money to buy the decent home grown and very expensive unsubsidised food but the rest of us will be eating a starvation diet of crap imports from the US and others, just like it used to be in the 'good old days' of the late 19th and early 20th century This bunch of reactionary idiots want to take us back to. Britain today is becoming more and more like Orwell's 1984!
@bearkins7
@bearkins7 4 жыл бұрын
Each year we get a simple leaflet from our local council telling us exactly what our council tax was spent on , why don't we get somthing like that from the EU ? I suppose its too easy & they really dont want us to know!
@simonevs020
@simonevs020 4 жыл бұрын
You do. It comes with the details of your end of year P60. Mine says £47 for last year.
@bearkins7
@bearkins7 4 жыл бұрын
@@simonevs020Thank you, but I dont think that it tells you exactly what it was spent on.
@michaelgardner5696
@michaelgardner5696 5 жыл бұрын
Somethings are worth more than any money, I would rather be free than any amount of money.
@lunafringe10
@lunafringe10 4 жыл бұрын
says someone who has no affinity to money,
@bryangeake5826
@bryangeake5826 4 жыл бұрын
When local services are cut back to tokenism, or simply go, when the NHS is privatised, when we essentially do not have a defence capability and Putin's nuclear bombers can probe our airspace almost at will and when the poor get poorer and the rich consolidate their privilege and power base (aka de-regulatory Rees Mogg) will you still think you are free!?
@DeezilOyl
@DeezilOyl 4 жыл бұрын
@@bryangeake5826 Don't forget that the world will end if the UK leave although methinks a hell of a lot of countries are not in the EU. I wonder how they are surviving? You shouldn't believe all the sh1t the elitists are telling you
@johnhooper7040
@johnhooper7040 4 жыл бұрын
Where is this loss of freedom you people bang on about. I'm only an ordinary person but the EU never impinged on my freedom. But it did give me pride in being a European, part of the greatest civilisation in the World. We may speak the same language, and we have been bombarded with American culture for years but I have felt far more of a foreigner in the USA, especially in rural areas, than when visiting Germany or the Netherlands.
@johnhooper7040
@johnhooper7040 4 жыл бұрын
Free from what? Oh I forgot, free to suffer under the cruel policies of an ultra right wing Tory government
@richardrussell5695
@richardrussell5695 4 жыл бұрын
You'd never see this man interviewed on the UK's Liberal left wing TV.
@dannychurch7223
@dannychurch7223 4 жыл бұрын
Richie Russell not bbc material.
7 жыл бұрын
Having read up about this, Minford seems to have this right. The problem is that what he's saying is not intuitive. For example, intuitively we would say that protectionism is a good thing. But look what happened to the British car industry. Post war there were some 50 makes of car. We would expect that market to be rationalized but it turned out far worse than that because of protectionism. All the major makes ceased to be competitive in a global market and today there are none.
@Whizzy-jx3qe
@Whizzy-jx3qe 7 жыл бұрын
Earl Minime Are you referring to the disaster that was British Leyland.
7 жыл бұрын
Not just BL although that's probably the worst of the bunch. A lot of the car makers were killed because of the unions, in the interests of keeping their jobs (which I understand), protected themselves from the competition until it was too late.
4 жыл бұрын
@ Yeah that's a load of bullshit.
@rontauranac
@rontauranac 3 жыл бұрын
The british makes died because of the stupidity and greed of the people who were in charge of them. Triumph made cars of the 1950's for a quarter of a century. The MGB and the Mini were interresting cars in 1962, no more in 1980. The Healey was outdated in 1967. Same with Alvis and Bristol. The whole BL story is a train wreck.
3 жыл бұрын
@@rontauranac No. You are wrong. The people that were running them were the unions but they were indeed stupid and greedy.
@neilmiddleton1170
@neilmiddleton1170 4 жыл бұрын
The big lie of the left... this guy is great ,freedom,freedom.
@bryangeake5826
@bryangeake5826 4 жыл бұрын
If you want a totally de-regulated free for all with almost no worker, consumer or environmental rights and safeguards, it will be a world Dickens wrote about and Marx warned about! Local services will have to be cut back to tokenism, or simply go, the NHS will be privatised, we will essentially have a defence capability that will be sub-standard and Putin's nuclear bombers can probe our airspace almost at will and when the poor get poorer and the rich consolidate their privilege and power base (aka de-regulatory Rees Mogg), that is the down side of this 'free trade' and 'free booted nation' this economist is talking about. His vision will not necessarily translate into a 'wealthier county! He neglects to mention that it is a known economic fact that for every £ we put into the EU our GDP benefits by £6 as a consequence of the multiplier effect of having free trade (non tariff) access to the second largest economic block on the planet!!
@iainlewis9031
@iainlewis9031 4 жыл бұрын
What freedom? It's Monday to morrow, get to work & don't be late!!!
@GonzoTehGreat
@GonzoTehGreat 4 жыл бұрын
This guy is an idiot who values profit above everything else. Unfettered Capitalism inevitably becomes crony Capitalism.
@ruthbashford3176
@ruthbashford3176 4 жыл бұрын
@@bryangeake5826 Your bizarre statement that Britain's GDP benefits by £6 for every £ put in is only true if you conflate membership of the EU with every bit of business done with companies in EU countries: it has nothing to do with the EU itself. Remember Britain is leaving the EU and not Europe. You must know as well as anyone that Britain is a net contributor to the EU by about ten billion quid a year. As for leaving the EU will mean "a totally de-regulated free for all with almost no worker, consumer or environmental rights and safeguards, it will be a world Dickens wrote about and Marx warned about!" I think you are a victim of 'project fear' as I seem to remember that before this country ever joined the Common Market now known as the EU workers had rights and even holiday pay. In fact, I'd argue workers have fewer rights since Britain joined the EU. As for the NHS being privatised why do you think the EU were, at one time, having secret talks with TTIP if not to privatise the NHS? You seem to think the EU is some sort of benevolent organisation that care about the ordinary person but nothing could be further from the truth.
@bryangeake5826
@bryangeake5826 4 жыл бұрын
@@ruthbashford3176 Once outside the single market with customs union we will cease to have the macro economic advantages that has resulted in this multiplier effect, its not bizarre, unless one is talking about the absolute determination of leavers TO REFUTE BASIC ECONOMIC REALITIES!! that IS BIZARRE! a case of remodeling reality to fit a non-objective based emotional position that has to maintain that the EU is a malign force that disadvantages the UK. It is a symptom of island-ism that is based on xenophobia and ignorance!
@mclanaford2957
@mclanaford2957 4 жыл бұрын
Thank you Prof .Minford
@jerryorange6983
@jerryorange6983 Жыл бұрын
what for? - Poll tax? or Mr Mogg's inspiration to make our live worse.
@cosmicdebris2223
@cosmicdebris2223 Жыл бұрын
@@jerryorange6983 damn I was just about to use exactly the same two words!!! For what! You beat me to it. I totally agree.
@louisbanaszak3125
@louisbanaszak3125 4 жыл бұрын
it a doomed ideology
@katharinedavis4947
@katharinedavis4947 5 жыл бұрын
Well said Sir. K
@trevorford9432
@trevorford9432 4 жыл бұрын
People should look up on youtube "Janice Atkinson the real cost of the EU" it's a real eye opener, remainers would dismiss this but Janice is an MEP and knows her stuff.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Scaremonger
@trevorford9432
@trevorford9432 4 жыл бұрын
@@iainlewis9031 have you looked this video up ??this is cold hard facts
@iainlewis9031
@iainlewis9031 4 жыл бұрын
@@trevorford9432 the FACT is I've lost my freedom to live & work on the continent.
@trevorford9432
@trevorford9432 4 жыл бұрын
@@iainlewis9031 WHY ?? They are not going to put big walls up or move any further away from us, my four brother inlaws all worked away in Germany in the 60's & 70's long before we joined the eec/EU with no problems.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
@@trevorford9432 it all depends on how we treat the EU workers, & if they earn over £ 30,000,a year, it's always the uneducated , state schooling that suffer, United you stand divided you fall.
@porcupineinapettingzoo
@porcupineinapettingzoo 3 жыл бұрын
Wait what, did he just call the UK small, wasn't the Irish PM attacked for doing the same.
@vincentmckenna281
@vincentmckenna281 4 жыл бұрын
At last some one backing up the doom and gloom of staying in the eu
@borisjohnson8633
@borisjohnson8633 4 жыл бұрын
A “clean break” is my desired brexit, the rest of parliament not so much.
@frederickcstacey.7520
@frederickcstacey.7520 4 жыл бұрын
But what does a clean break entail?
@frederickcstacey.7520
@frederickcstacey.7520 4 жыл бұрын
Also Boris what was your thing about kippers in the conservative leadership election, the Ice pillow the quoted was watsteful, which it could be considered as such, is mandated as a part of UK regulations, not EU ones. Also the law that I believe you cited in your resignation letter about protections given to female cyclists was a EU law that passed with some resistance from the UK government. Anyway have a nice day.
@polenit6390
@polenit6390 6 жыл бұрын
Just great professor Patrick Minford we can invest in the UK yes EU holding us back just look at EU investment in Wales they spent money on crap when it needs jobs or technology or technical colleges
@janjasiewicz9851
@janjasiewicz9851 5 жыл бұрын
Pole Nit ..local government competes for EU funds for local projects .. so if you feel money is wasted complain to the local government not the EU.. and funding for technical college etc is the responsibility of the U.K. government ... not the EU. So if you have complaints complain to the UK government who have reduced funding as part of their austerity program... I can tell you that the EU has provided funding for internet infrastructure to rural communities ....
4 жыл бұрын
Minford and yourself are brain damaged living jokes.
@margaretedwards2439
@margaretedwards2439 4 жыл бұрын
Yes, the Welsh Assembly run by the labour party is a traitor to we Welsh people who voted to leave the EU!! Now that well known traitor Mark drakeford is openenly saying he will promise to remain in the EU against the wishes and votes of we the people?? How dare this man take our money as a public servant while plotting to destroy our legal votes?? This man is a treacherous bastard who's betraying the real British people in Wales today!!
@10wanderer
@10wanderer 4 жыл бұрын
@ said the Irish intellectual ????????
4 жыл бұрын
@@10wanderer Yes that's right you craven serf idiot.
@tedjess7484
@tedjess7484 4 жыл бұрын
The Others want to listen to Morris is right we won doubt you’ll want to head testing they levels down and Lloyd Lloyd
@maureen348
@maureen348 5 жыл бұрын
FREEDOM IS THE KEY WORD.FREE TRADE ,FREE SPEECH FREE THOUGHT, FREE BELIEFS.
@porcupineinapettingzoo
@porcupineinapettingzoo 3 жыл бұрын
Now you are free to accept EU rules if you want to trade with the EU, Australian rules to trade with Australia, Japanese rules, US rules etc etc etc, Britain has to accept EU rules to trade with Northern Ireland, what a joke your version of freedom is!
@ludovic2431
@ludovic2431 4 жыл бұрын
Really, comparing yourself to city states with highly educated citizens?? Something is going wrong here.
@johnhooper7040
@johnhooper7040 4 жыл бұрын
There is no comparison between the UK and Singapore. And don't forget Singapore is a surveillance police state so where's the 'freedom' the 'leavers' bang on about if we become more like Singapore
@peteralexander5000
@peteralexander5000 5 жыл бұрын
Why can't our government get this I ask? It all makes perfect sense. It's a no brainer surely!
@gavinthompson687
@gavinthompson687 4 жыл бұрын
Funny - it's a 'cost' business seems to have been quite happy to pay for the last 40 plus years. Maybe Minfotd could tell us which sectors in Business or even which individual Businesses that have been campaigning to come out of the EU before the referendum or since? Funny that none of the equivalent academics in Oxbridge universities appear to agree with Minford. It's a funny kind of problem that none of the Businesses apparently affected seem to see it as a problem! So everyone else is wrong and Business has opted to pay these EU 'costs' without complaint because they are all 'ĺazy' and 'stupid', despite having managers and directors that are of above average intelligence and 1st class degrees from good universities. Funny that!? But hey maybe we have all been fooled for generations and it is Cardiff University that was the leading seat of economics knowledge rather than Oxford, Cambridge or the LSE?
@tonyroy8123
@tonyroy8123 4 жыл бұрын
So much wrong information here. Our EU membership is only 1% of GDP and not 10%. I don't know where he got his figures from. ONS Government site provides all the latest information about GDP.
@andreasgrund8337
@andreasgrund8337 3 жыл бұрын
Minford ist wrong about everything everytime
@paulleader7000
@paulleader7000 4 жыл бұрын
we need to get OUT ASAP
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Why?
@garyholt4445
@garyholt4445 4 жыл бұрын
The EU has always been protectionist and anti competitive..What is it that remainers cant understand, you introduce competition and it brings the prrice of goods down..Common economic sense.
@worldxmaps
@worldxmaps 3 жыл бұрын
1) Milford is literally the only economist that supports Brexit. 2) The UK has already lost more money from Brexit in only a few years than the the total sum of all the money ever paid to the EU. 3) Minford may be correct in his theory that there could be gains from a regime of unilateral literal free trade, however there is absolutely zero political support for it. Thus Brexit will result in less trade and a poorer UK.
@gailgoodwin8942
@gailgoodwin8942 6 жыл бұрын
👏👏👏👏👏👏👏👏YES🇬🇧
@rogercligg2913
@rogercligg2913 4 жыл бұрын
I also say Should be broadcast on mainstream tv Eastenders or corrie times
@frederickcstacey.7520
@frederickcstacey.7520 4 жыл бұрын
If this man's claims were true then unemployment would be ever increasingly and immensely high but unemployment remains relatively low and stable until the coronavirus crisis in which unemployment in quite a few countries barely increased and people so far haven't been made homeless.
@frederickcstacey.7520
@frederickcstacey.7520 4 жыл бұрын
Also in many respects we are a free trading nation as in the EU we have access to not only europe but also many countries from around the world, provided that they meet EU standards, mainly in the areas of safety. This means that not only are UK consumers getting most of the benefits of free trade but are also kept safe by the necessary safety standards. Also to put one irrefutably dubious claim to rest the claim that chlorinated chicken doesn't kill many people is a downright lie as not only does the US have a rate of food poisoning in the region of 10 percent, ours for reference is around 1 percent, the amount of deaths from food poisoning is also higher on a per capita basis by a factor of over 10 percent factoring in their abissmal healthcare system.
@baronvonlimbourgh1716
@baronvonlimbourgh1716 2 жыл бұрын
He has been talking nonsense since the 80s.
@siteman5055
@siteman5055 4 жыл бұрын
Why isn't this man in the mainstream media??????????
@barry5111
@barry5111 4 жыл бұрын
We joined the Common Market in 1973 which makes the youngest voters in the referendum to remember life outside the EU about sixty one years of age. So that's an awful lot of people voting who only know of like in the Common Market/ European Union. Project fear really does work on people that were asked in the main to take a leap in the dark. I'm old enough to remember full employment and the ability to change your job in your lunch hour I actually did it. I remember going in the old London docks and the old Covent Garden market. Produce was coming in from all over the world with beef from the Argentine, lamb from New Zealand, sugar from the Caribbean and our factories were selling our cars, motorbikes, ships, locomotives, aircraft across the world. Then the combination of stupid unions, inept management and competition from the far east turned a lot of our industries into lame ducks. Couple that with allowing foreign countries to buy our best industries leads us with not much left that we actually own ourselves. I voted brexit I hope we can get out from Europe and be successful, but we don't own much anymore with people like the Japanese threatening to shut down Nissan up north and Honda already closing Swindon plant. Our only hope is to become the Hong Kong of Europe and become the low tax deregulated powerhouse attracting more investment from outside. Corbyn's mob and the lib dems though love the regulation of the EU it keeps them feeling safe having all these new rules placed on our commerce. They've actually got the Vichy France mentality things are alright why should we take a chance on changing things.
@geraldaird1548
@geraldaird1548 Жыл бұрын
Since when was deregulation a good idea, one instance where it did not go wrong?
@williamkennedy5492
@williamkennedy5492 Жыл бұрын
Ted Heath has so much to answer for !
@kennyfenny4754
@kennyfenny4754 4 жыл бұрын
Wanting to remain in the EU is more about tribalism than what's best for the UK.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
When the rich! Get out, they don't give a dam about the UK, it's all about paying TAXES!
@kennyfenny4754
@kennyfenny4754 4 жыл бұрын
@@iainlewis9031 What do you mean ? Tax avoidance happens everywhere ....But If businesses can pay less tax in a post Brexit UK this will encourage big rich tax paying businesses to come to the UK in the future.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
@@kennyfenny4754 as long as the poorest pay their taxes, & receive low wage & pay high rent,& can't afford to heat their unsettled home! Your must live on the other side.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
@@kennyfenny4754 this is the worse country I'VE work in. more than just a few country this country treets the workers , like the imperialist did ! Now they've! The tory party have now got a free passage to get away with EU LAWS!!!! REALLY they will take the piss.
@kennyfenny4754
@kennyfenny4754 4 жыл бұрын
@@iainlewis9031 your argument just relies on assuming UK laws will automatically get worse when out of EU control because your bias ? Why would they even need to change or if they do who says they will not improve. Also how can it be the worse country to work in when all EU countries follow the same workers rights laws. Maybe people should take responsibility for themselves to have a good job or business rather than blame the government for their own failings in life. It would be the socialist who would ruin this country by punishing business owners and any one that has worked hard and got themselves out of poverty. If there was no businesses there would be no jobs for workers in the first place. You also seem to think the EU can not do any wrong. If really took the time to study it you would see that its meddling is just about justifying its existence. A country dose not need to governments.The EU is all about empire building and not about you? My grandparents were poor but worked very hard their whole lifes ruining a farm and starting up a couple of small business which they ran for years. They never became rich but yet are still being given a £75,000 capital gains tax bill or face prison while now in their 90's. The tory's want to get rid of this type of socialist state theft along with the 40% inheritance tax which effects lots of middle class home owners in London. But labour want to increase this so effectively they can give it to people that are dependent on state handouts or just dont want to work to close the gap in the classes. How can that be fair. what kind of message dose that give to people.(There is no points trying in life because the government just take it all away from you in the end one way or another). Richard branson was a poor kid once and now he is one of the riches guys in the world by taken advantage of all opportunity's there is to had in this country. The social help to be had in this country is a great thing when people need it but to punish capitalist thinking people for becoming successful is border line criminal. In my opinion every one should pay the same amount of tax and it should not be done on how hard you work or how successful a individual has become job wise.
@mickTaylor0860
@mickTaylor0860 4 жыл бұрын
No acident singapore and hongkong do well, ist a british system, uk would have countyrs queing up the next day after a clean brake
@mickTaylor0860
@mickTaylor0860 5 ай бұрын
Funny the world seemed normal back then. Now it's far from normal. Well planned though
@xothehost123
@xothehost123 3 күн бұрын
lol.
@johnsmythe7940
@johnsmythe7940 5 жыл бұрын
What this Economist is saying really is a wake-up call on Men, don't have children just for Sex, have a Child because you and your wife want a child. Also before you have a child ensure you can afford the cost of your child, clothing, education, it all costs if you don't have enough money to care for your child it will probably in the long term destroy your marriage.
@SuperCDS1
@SuperCDS1 4 жыл бұрын
Tell that to all the immigrants on benefits !
@PaulDavis-ep6tn
@PaulDavis-ep6tn 4 жыл бұрын
EU cost to UK 2018 £20 bn Theoretical Liability. less £4.5 bn Abatement less £4.5 bn Public Sector Credits leaves £11 bn net contributions The EU tells us where the public sector credits go to. 18 countries benefit from the EU including Poland and Greece. Poland has received the £100 bn in funding more than any other country since they joined the block in 2004 . Greece has received 3 bailouts totaling £227 bn since joining in 1981.
@thomaswhyulying6524
@thomaswhyulying6524 4 жыл бұрын
Let everyone pays for their own countries costs not to share others burden.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Yes!! Fuck the lot ! I'am alright Jack keep your hands of my SACK,imperial & nationalist,get out more!
@Lisnageeragh
@Lisnageeragh 4 жыл бұрын
Britain was doing so well before 1973 and it's exports have flourished since then so that now europe sells more to us than we do to them....just think of all the fish we could have...non tariff levying ...a nice open market...we have done so well in shipbuilding , motor manufacture , aircraft sales...and agriculture ...a light to the nations.
@iainlewis9031
@iainlewis9031 4 жыл бұрын
The fishing industry, sold their quoter, to our partners !!!
@iainlewis9031
@iainlewis9031 4 жыл бұрын
Ho yeah, the poor man of Europe!!
@folksinger2100
@folksinger2100 4 жыл бұрын
And this is the chap who told the UK Government that Brexit would see the end of UK manufacturing and UK farming
@iainlewis9031
@iainlewis9031 4 жыл бұрын
We have not left yet!
@folksinger2100
@folksinger2100 4 жыл бұрын
Fingers crossed we dont
@philipsmith7842
@philipsmith7842 4 жыл бұрын
This nice and honest gentleman needs to be wake up. He dreams in 19th century world order and recall economical rules from first half of 20th century, while we live in world when your car made in UK or Germany or Hungary needs parts made in Poland, Austria, etc. - your Hoover made in China needs to be replaced by different hoover made in China after 2-3 years to keep running the sales teams here and the production over there. It is chain train set exactly because national individual trading did not work well enough because we all wanted more for less. Single market and custom union with other European countries is a good idea. European megastate is not. But if we walk away it may grow next to us without us and our childern having any say... wake up fellows !
@allisonbeaumont6763
@allisonbeaumont6763 4 жыл бұрын
we traded for around 2000 years before the EU came along and bearing in mind 60% of our trade is already outside the EU under WTO, it is certain we will cope. The supply chains of the 1970s have moved on, technology has moved on. Being outside the EU for the other 40% is extremly do-able
@ervie60
@ervie60 4 жыл бұрын
@@allisonbeaumont6763 Wrong dear, most of that non EU trade is done under trade agreements made by the EU. A no deal brexit means ? all of those agreements will have to be redone by the UK.. so good luck but be patient!
@ervie60
@ervie60 4 жыл бұрын
@Teresa Watts Not ripping off; it is nothing personal just business :)
@allisonbeaumont6763
@allisonbeaumont6763 4 жыл бұрын
@@ervie60 12% is hardly 'most'
@ervie60
@ervie60 4 жыл бұрын
@@allisonbeaumont6763 12%? explain how you come up with that percentage. Trade with the USA, Canada, South Korea, ASEAN block just a few names thatalready have a trade agreement with the EU. Those trades are a lot more then a mere 12% you mentioned.
@jackkruese9929
@jackkruese9929 4 жыл бұрын
Any argument can be convincing if you chose to totally ignore any counter argument or points. Because if the UK leaves the world biggest trading block and there s a 10% tariff on all cross border movement of goods for the foreseeable future, the UK will pay a terrible price.
@triciacol
@triciacol 4 жыл бұрын
The only snag in Pr. Minford's HongKong / Singapore argument is when China has no use for Hong Kong for example, because of it's preference for Shanghai; Hong Kong is allowed to wither. When we exit the EU we had better start showing some of that entrepreneurial skill we pride ourselves on.
@andybray9791
@andybray9791 3 жыл бұрын
The iea had no stance up to the referendum
@petermontgomery8707
@petermontgomery8707 4 жыл бұрын
Quite frankly I’m not that bothered about this. As far as I’m concerned arguing the economic benefits is a diversionary scare tactic by the remain establishment along with the shaming and emotional blackmail tactics I voted in the knowledge that I might take an economic hit but some things are more important. It’s about the rights of the demos vs the accountability of those that hold power. The question is ultimately a constitutional one rather than an economic one.
@outsidethematrix1064
@outsidethematrix1064 4 жыл бұрын
Why can't this person spend some airtime on our beloved Brussels broadcasting company and try and i say try to get through to the left... 😂😂sorry I just woke up! That was a crazy thought 🇬🇧🇬🇧
@TheJackb45
@TheJackb45 4 жыл бұрын
So who benefits exactly? If workers have lower standards surely most of the population of the uk are working or dependent on workers
@ekorusoy
@ekorusoy 4 жыл бұрын
Problem with Singapore and Hong Kong is that they also have zero social welfare. It’s the Milton Friedman school of thought.
@neilmiddleton1170
@neilmiddleton1170 4 жыл бұрын
Yes,ok all of that is true,but I have voted labour all my life,because my mum and dad did,also,I supported Arthur Scargill and the miners,we should have kept all of those pits open,we need more pollution now,You Brexit people are crazy! I want to be ruled by the Eurocrats.although I didn’t elect them,Shame on you for supporting Bojo,for standing up for GB.He is out of order! As Churchill would have said..”we shall surrender on the beaches” we shall fight them with words like,surrender,traitor.terrible words like that.. we shall never give in.....yours faithfully Jeremiad
@bryangeake5826
@bryangeake5826 4 жыл бұрын
Churchill also said “If Europe once united in sharing of its common inheritance there would be no end to its happiness, prosperity and glory” maybe utopic in its optimism, but he saw at first hand the opposite! And that is the reason why the European Project must continue and every retrograde step (as in a Hard Brexit) undermines this objective at our common peril!!
@ruthbashford3176
@ruthbashford3176 4 жыл бұрын
@@bryangeake5826 The European project's aim is to form an Empire with Britain as a subservient minion. This was recently confirmed by Verhofstadt at the Liberal Democrats conference.
@baronvonlimbourgh1716
@baronvonlimbourgh1716 2 жыл бұрын
Superficial narrow minded nonsense.
@martinmcdonald4207
@martinmcdonald4207 Жыл бұрын
This hasn't aged well! What a load of total nonsense this 'professor' speaks.
@doveronefoxtrot4417
@doveronefoxtrot4417 4 жыл бұрын
Let's hurry up and deliver this, and end this tyranny of control by a bunch of overpaid self obsessed leaders, who are taking us for the ride of our lives.
@zigor4
@zigor4 4 жыл бұрын
Singapore's success like Switzerland's has been crafted over many decades, it can't just be duplicated immediately how stupid a comparative theory is that? The fact that leavers think this is ridiculous the comparison is irrelevant.Singapore has a free trade deal with the EU that will never happen for the UK now.Unless ofcourse the EU want to commit economic and organisational suicide.
@rogercligg2913
@rogercligg2913 4 жыл бұрын
Very fair analysis Well done
@egnazia
@egnazia 6 жыл бұрын
OBE...Order of the Brexit Empire 🙄🙄🙄
@mclanaford2957
@mclanaford2957 4 жыл бұрын
egnazia Highly intelligent thank you Prof Minford
@iainlewis9031
@iainlewis9031 4 жыл бұрын
@@mclanaford2957 I know what you want!! A British empire,
@shamus2198
@shamus2198 4 жыл бұрын
City of London propaganda.
@neilmiddleton1170
@neilmiddleton1170 4 жыл бұрын
Very good joke,political freedom.....ha ha
@NicholasWarnertheFirst
@NicholasWarnertheFirst 4 жыл бұрын
Bankrupt and out of date yes....Patrick Minford is.
@keithwilkins1437
@keithwilkins1437 4 жыл бұрын
What is the gross cost of the EU? Include the nepotism the ,fraud, the wastage ,the inflated expense accounts , half baked schemes ., One final thought==we drive on the left in UK .
@bertnijhof5413
@bertnijhof5413 6 жыл бұрын
Simple remark, the free trade as promoted by the prof does not exist. All countries and trade blocks use the WTO rules for trade with external blocks or countries. Within the EU we lower the costs by optimising and improving the WTO rules. Between Canada and the EU we also use optimised rules. The situation the prof describes, only occurs, if the WTO only allows completely free trade, but that is not the reality. With respect to the prof I can only say; poor students.
@saabsa
@saabsa 4 жыл бұрын
He's right but the 27 are becoming a super state brexit United the Eu like never the UK will be just fine but economy have to shrink a bit and pound gonna have to loose value for export or it will be too expensive and the eu market is ideal for the British pound scary but it is what it is
@iainlewis9031
@iainlewis9031 4 жыл бұрын
We want a independent day, from the UK.
@sylviadavis2169
@sylviadavis2169 4 жыл бұрын
I really agree with this gentleman. Why do we need the EU to tell us what to do? We have very intelligent people here in the U.K. We should never have joined.
@ProjectOverseer
@ProjectOverseer 4 жыл бұрын
He forgot to mention the UK 🇬🇧 was near bankrupt when we joined and being members made us very wealthy.
@poppet229
@poppet229 4 жыл бұрын
Yes true but if you were up on you knowledge of what the UK have done for you it’s an awful lot so read it before you blog
@ProjectOverseer
@ProjectOverseer 4 жыл бұрын
@@poppet229 I know the history very well. Apart from living it (yes I'm old) I witnessed the positive changes, albeit, slow. The collapse of British industry (I was a victim) had nothing to do with the EU but an awful lot to do with a Thatcher run Tory Government. I remember Heath taking us into the beginnings of the EU (known as the Common Market) illegally. No one knew anything at the time, but we know now now why, and why Wilson concocted a referendum (which was also Illigal) which won an overwhelming majority to remain. Lots of dodgy stuff got us to where we are now, unfortunately.
@drew699
@drew699 3 жыл бұрын
UK was worlds 5th largest economy in 1973 when the UK joined the EEC. In 2021 the UK is the worlds 5th largest economy. How does the above fact, sit with your ignorance of reality?
@commonsense31
@commonsense31 7 жыл бұрын
Well brits you just have to work for the same pay, as they do in China, but things you buy would be slightly lower.
@mclanaford2957
@mclanaford2957 4 жыл бұрын
Common Sense What Crap. Open your eyes listen to the intelligent people that love the U K and that are not on bed with BRUSSELS
@madedigital
@madedigital 4 жыл бұрын
Everyone watch Cromwell on KZfaq
@mantraman1533
@mantraman1533 4 жыл бұрын
The Worst gibberish ever heard, no figures at all either, lock him up.
@chrismorris4708
@chrismorris4708 4 жыл бұрын
What a ridiculous comment
@pieterschadron3644
@pieterschadron3644 4 жыл бұрын
Before you start calculating about the 'cost'of membership please anwer the question: Why should a develloped country like the UK have a rebate at all? Why should the UK have a special position in the EU, is the UK a disabled country, an underdevellopped country (I guess yes, a complete lack of infastructure apart from the London area, however large this area is , it is only a small portion of the whole country). Another silly matter in this interview is that the EU funds available for devellopment in the UK are not spend well! That is up to your own politicians, you are stating that your politicians are not capable of directing the money towards suitable projects. My guess is that within a few years the UK will crawl humbly towards a new membership, then the other EU countries can help to recreate your by then completely ruined economy.
@janjasiewicz9851
@janjasiewicz9851 5 жыл бұрын
Voodoo economics...if the worst kind...
@howardjones9748
@howardjones9748 4 жыл бұрын
Britain pays in to EU more than it receives..Britain buys more from the EU than it sells... Britain fifth biggest economy in world?? Unable to properly repair it's own roads. Unable to build schools hospitals power stations doctors surgeries sewage facilities without resorting to outside investment via PFI contracts... Britain now 'renting' long term more and more of it's vital infrastructure. EU countries using British contributions probably build schools hospitals power stations doctors surgeries sewage facilities ????? ..What a hideous financial burden for the children of Britain who already have their futures weighed down by the cost of the worldwide banking crisis.....
@iainlewis9031
@iainlewis9031 4 жыл бұрын
And who is leading the UK? Ho of course it's the government! We want our country back! From the British ARSEHOLE's
@stuarthighfield3967
@stuarthighfield3967 4 жыл бұрын
B
@georgbergsten6050
@georgbergsten6050 4 жыл бұрын
lol this is such garbage
@rdh-daliasjb3796
@rdh-daliasjb3796 5 жыл бұрын
Funny, because the EU has finalised a deal with Singapore which they hope will pave the way for a wider agreement between the 10-member Asean and the 28-member EU. Another deal we'll have to renegotiate. The number of Departments, negotiators and civil servants we are going to need will make the EU look cheap.
@robertday8619
@robertday8619 5 жыл бұрын
RDH-D Alias JB or what ever your STUPID name is !!! You are TALKING UTTER RUBBISH you haven't a clue
@rdh-daliasjb3796
@rdh-daliasjb3796 5 жыл бұрын
Robert Day Delightful!
@lewisner
@lewisner 5 жыл бұрын
But we won't be giving billions to the EU to support Eastern European economies and those departments and civil servants will be jobs for people in the UK.
@rdh-daliasjb3796
@rdh-daliasjb3796 5 жыл бұрын
If you want to look through the keyhole and see the small picture: True.
@lewisner
@lewisner 5 жыл бұрын
A lot of small pictures can be combined to make a big picture. Our net contribution to the EU is £8.6 billion PA and I am happy if that is used to employ civil servants.
@zbigniewbecker5080
@zbigniewbecker5080 4 жыл бұрын
So, here we are with wooly and poetic statements from an economist unable (how could he) to be specific with numbers, and the only tangible proposal he has is: 'let the UK be Hong Kong/Singapore', which would be an OK proposal for a young amateur politician, but not for a respected professor of economy! Give me a break! The EU as the ultimate evil? Excuse me, but has everything in the UK prior to joining the EU been splendid and perfect? If you want to convince the Brits that getting out would be better than have a plan and strategy, and stop making the British politics becoming a laughing stock for the world. Has the EU been blocking all these wonderful ideas presented in Manchester by BJ, so only after Brexit they could have been implemented? Get real!
@2opler
@2opler 4 жыл бұрын
I`ve never met anyone who voted leave to get wealthier, although i met one or two or were pragmatic about a war of independence actually costing something....It was far more culture than economics.
@megazero952
@megazero952 2 жыл бұрын
I got wealthier, was finally able to get a job, until the lockdowns started and gas prices went up, thank biden and CCP
@royalordinance
@royalordinance 3 жыл бұрын
Blair, Soubry, Oluwole, Juncker, Merkel, Sorros, Take Heed. We will be free.
@janvanderploeg764
@janvanderploeg764 4 жыл бұрын
This babble box didn't use any figure. It costs a lot, really? Oh, how bad! It regulates stuff, like labour and environment, all bad for the race-to-the-bottom extreme trading gurus. The only figure mentioned is 10% of GDP... 10% of UK's GDP over the last 45 years? 10% per year? The EU is not the solution to all problems, nor is without it flaws, but it is the common ground on which European countries have decided to deal with each other. Please leave and see how good your regulation-free free trade paradise will be, by stepping out the free trade Single Market. The first market you cannot trade with is the EU, because of regulations regarding food safety, labour regulations and environmental standards. For the workforce, become financially indebted, nationalism-fed, working slaves needing 2 jobs to survive while increasing the profit of capitalistic buccaneers who happily pay old men like our friend in this video to turn out some other factless crap to incite you.
@AlexeiRamotar
@AlexeiRamotar 5 жыл бұрын
According to this guy people should work for food and shelter and leave it at that. So very pro-Rich. I am assuming he likes laissez-faire capitalism and believes the state is there to protect the wealthy class' property rights.
@smellypunks
@smellypunks 5 жыл бұрын
Alexei Ramotar the idea is humans are most productive when we are free.
5 жыл бұрын
@@smellypunks You'll never be free from your own dumb as fuck stupidity you moron.
@mclanaford2957
@mclanaford2957 4 жыл бұрын
Seán O'Nilbud We will see the UK prosper Open your eyes. They are ripping all those countries off not just the U K. But. .... RULE BRITANIA. THE U K IS SHOWING THE FORTITUDE. !!!! Many will follow.
@lesappleton2879
@lesappleton2879 5 жыл бұрын
R
@hauskalainen
@hauskalainen 5 жыл бұрын
Ask the British steelworker if he wants foreign steel to carry tariffs or be subject to caps to protect his job and you will get a very firm answer. And it ain't what Patrick Minford wants.
@usandthem73
@usandthem73 4 жыл бұрын
What does this guy know.
@ruthbashford3176
@ruthbashford3176 4 жыл бұрын
Quite a lot actually. Yer pays yer money and pick the expert yer want to believe!
@GlobalDrifter1000
@GlobalDrifter1000 5 жыл бұрын
No facts. Only b.s.
@mclanaford2957
@mclanaford2957 4 жыл бұрын
BamBamBatMan Your comment is exactly what we hear from unintelligent remoaners. Of course you will move to BRUSELLS or BERLIN after Brexit, I I understand that fully. Best get going ,you only have a few weeks . !!!!!
@GlobalDrifter1000
@GlobalDrifter1000 4 жыл бұрын
mclanaford I have no dog in the fight. One doesn’t have yo be able to lay an egg to be able to identify a rotten one.
@taffyman6089
@taffyman6089 3 жыл бұрын
Minford's credibility went a long time ago.
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