Benefits of EU membership “significantly outweigh” costs, says CBI

It is overwhelmingly in the UK’s interests to remain in the EU, according to a wide-ranging report by the CBI.

The report, “Global Future: the business vision for a reformed EU”, finds that while there are several drawbacks and frustrations associated with EU membership, the benefits are far greater than any alternative option.

It highlights research that shows the EU assists each UK household by up to £3,000 a year and that membership is worth approximately 4-5% of UK Gross Domestic Product (GDP) each year, or £62-£78bn.

CBI director general John Cridland said: “We have looked beyond the political rhetoric to examine the pros and cons of EU membership and British business is unequivocal; the single market is fundamental to our future.

“We are better off in a reformed EU than outside with no influence. Each year, membership is worth £3,000 to every household in this country.

“But the EU isn’t perfect and there is a growing unease about the creeping extension of EU authority. Europe has to become more open, competitive and outward looking if we are to grow and create opportunities and jobs for all our citizens.”

He added: “Contrary to popular myth, the UK is influential in the corridors of Brussels and will still be as long as we play our cards right. The single market is a great British success story and the best way for us to remain a leader on the world stage is from within the EU.”

Readers' comments (1)

  • This CBI chap has managed to oppose his own statement. Of course we are in favour of a single market BUT we are opposed to political interference in everything else. Why he is so silly not realising this but simply using school boy rhetoric to make a statement reinforces the view that we need to rescind our membership of the EU club as soon as possible. Once we give notice to quit will be the time that negotiations can begin on the real issues. No one is listening to Cameron in the EU or elsewhere so lets have the referendum quickly and then we can move on. And you never know, perhaps other countries will gain some courage and follow the British lead as over half of the EU member states are dissatisfied with the EU and want a referendum also including France and Germany and I don't mean their political leadership.

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