b3ta.com qotw
You are not logged in. Login or Signup
Home » Question of the Week » The EU » Post 2618931 | Search
This is a question The EU

Why not have a question about the EU referendum? asks Spanishfly. Rather than something you have done or experienced. Let's hear how you think leaving the EU will affect you.

(, Mon 27 Jun 2016, 13:44)
Pages: Popular, 2, 1

« Go Back | See The Full Thread

Not overall in profit....
... but paying proportionally less than Norway or Switzerland would have to pay I would think? I don't actually know this, I'm going to see if I can find it out.

PS: this is officially the first time this year a statement on the EU was followed by a disclaimer of ignorance.
(, Wed 29 Jun 2016, 13:20, 1 reply)
I can't find a straight answer on this
some chancing Eurocrat said "you'll pay as much per capita as Norway", and since norway pays 119GBP per capita, the total bill for the UK would be 7.7bn GBP for 65m people... so what it pays now, but keeping the regional development funds that it currently pays in and claims back. Depending on how you count it, the UK looks at being 1bn a year better off.
(, Wed 29 Jun 2016, 13:39, closed)
1bn a year is peanuts compared to the potential downside
Britain's annual GBP = GBP453 billion (Q1 2016 estimate)
1bn = 0.2% of GDP
Annual GDP growth forecast = was 2.1%, recently downgraded to 0.4% following Brexit
So that's around 8 year's worth of net benefits lost already.

Debt repayment is more interesting. Current national debt = around GBP1.6 trillion. Annual cost to service debt = GBP43 billion.
1bn = 2.3% of 43bn.
So a tiny change in the interest rate will affect debt repayments far more than then scale of potential net benefits from reduced EU payments. And interest rates depend on credit ratings, and exchange rates...
(, Wed 29 Jun 2016, 14:23, closed)
sure, but that's the impact of Brexit itself, not Britain's economy outside the EU
Uk's exports to the EU dropped by 7% last year, and have grown by a meagre 3.6% over the past 15 years, compared to double that for non-EU exports. So the freedom to trade with non-EU countries on its own terms rather than the bloc's makes more sense for the economic future.

As for interest rates; they've been fucked for a long time either way. They can't stay at or near zero forever.
(, Wed 29 Jun 2016, 14:40, closed)

« Go Back | See The Full Thread

Pages: Popular, 2, 1