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Last updated on June 15th, 2017 at 04:04 pm
Britain is losing 200 million pounds (290 billion euros, 365 billion dollars) a year due to its membership in the European Union, according to a detailed cost analysis to be published next month.
“The cost of the EU to Britain is equivalent to the UK economy remaining stagnant for eight years,” said co-author Philip Booth of the conservative Institute of Economic Affairs, quoted in The Business, a Sunday newspaper.
Direct contributions to the EU budget, higher food prices due to the Common Agricultural Policy, higher costs for manufactured goods, lack of competition in services, and red tape are imposing high costs on Britain, the report says.
But consider all the benefits!