Vote leave to benefit from a world of opportunity Telegraph View

There is no doubt that since 1973, the country has prospered. Indeed, we joined the Common Market because we thought it was the answer to the economic malaise that had led to Britain being dubbed “the sick man of Europe”.

But all industrialised countries are wealthier than they were then, not just those in Europe. Arguably, the economic and financial changes wrought during the 1980s, together with the decline of trade union power, contributed far more to our GDP growth than membership of the Common Market.

Is it seriously being suggested that had we continued to function as an independent nation for the past 43 years like, say, Australia or Japan, we would today be the impoverished off-shore neighbour of a continental powerhouse? We cannot be sure; but there is no reason to believe so.

We are told membership is essential because it provides access to a market of 500 million people; yet there is a market of six billion people beyond its borders and nothing would stop us continuing to trade with Europe anyway. Other non-EU countries trade more with the single market than we do but don’t have to pay into the EU budget for the privilege of doing so.

A world of opportunity is waiting for a fully independent Britain. This country is a leading economic power, its language is global, its laws are trusted and its reputation for fair dealing is second to none. To say we cannot thrive free of the EU’s constraints is defeatist and flies in the face of this country’s great mercantile traditions.

But while the economic rationale for membership was the key argument behind the movement to take us into the Common Market, there were other motivations, too. After the Second World War and the end of Britain’s role as a colonial power, the country was politically and diplomatically adrift. Its predicament was summed up by the US secretary of state Dean Acheson with the phrase: “Great Britain has lost an empire and has not yet found a

role.”

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George Soros: EU exit risks 'black Friday' , The Guardian and MSN. More scare tactics from the Remain Campaign

 

George Soros, the man who nearly banhkrupted Great Britain in 1992,

The world’s most famous currency speculator has warned that a vote on Thursday for Britain to leave the EU would trigger a bigger and more damaging fall for sterling than the day he forced Britain out of the Exchange Rate Mechanism almost a quarter of a century ago.

George Soros, writing in the Guardian, said a Brexit vote would spark a ‘black Friday’ for the UK, but the devaluation of sterling would bring none of the benefits to the economy that it enjoyed after it dropped out of the ERM on 16 September 1992 – Black Wednesday.

He said that, as in 1992, there would be big financial gains for speculators who had bet on the UK leaving the EU but that such an outcome would leave “most voters considerably poorer”.

Soros said that unlike after Black Wednesday, there was little scope for a cut in interest rates, the UK was running a much larger current account deficit, and exporters would be unable to exploit the benefits of a cheaper pound due to the uncertainty caused by a vote to leave the EU.

“Sterling is almost ­certain to fall steeply and quickly if leave wins the referendum,” Soros said. “I would expect this devaluation to be bigger and also more disruptive than the 15% ­devaluation that occurred in September 1992, when I was fortunate enough to make a ­substantial profit for my hedge fund investors at the expense of the Bank of England and the British government.”

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Brexit won't cause recession, Michael Gove says, as David Cameron warns there will be 'no turning back' , Telegraph and MSN

 

 
Britain will thrive outside the European Union, Michael Gove declares, as he rejects warnings that Brexit will cause a recession and urges the country to “vote for hope”.
In a passionate appeal to the public to set the country free from Brussels rule, the Vote Leave leader predicts the economy will prosper from a decision to pull out of the EU in this week’s historic referendum.

Mr Gove says voters should have confidence in Britain’s capacity to achieve “great things” as an independent country that is wholly run by MPs who are democratically elected by the British people.

In an interview with The Telegraph, he says the UK will be better placed to cope with the strains of global economic disruption if the country takes back full control over its own affairs.

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Further Reading:

1)     Latest Poll Results on Brexit

2)     George Osbourne,  Chancellor of the Exchequer’s latest warnings of financial crash if we vote Leave

3)     Chris Grayling,  Vote Leave says Great Britain will flourish post Brexit

4)     Peter Hitchens,  Daily Mail columnist asks why our Political Elite in the UK don’t want us to be an Independent Country?

IMF: Brexit May Not Mean A British Recession ,Msn & Sky News

Britain need not suffer a recession if it leaves the European Union, the International Monetary Fund has said in its assessment of the risks around the referendum. 

The Fund said that the UK economy would be comparatively weaker if it left the EU but under its "limited" scenario - in which Britain stayed in the European Economic Area, the group that includes Norway - growth would slip from 2.2% to 1.4% next year. 

The drop is significantly smaller than that forecast by the Treasury. However, the Fund said that under an "adverse" scenario, in which the UK left the EU and failed to seal a Norway-style deal, having to fall back on World Trade Organisation rules, the UK would suffer a recession in 2017, with the economy shrinking by 0.8%.

The Fund's conclusions about the economic impact of Brexit have been highly anticipated for the past month, since its managing director, Christine Lagarde said that they would range "from pretty bad to very, very bad".

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