The total annual cost of EU membership to the UK could rise to 20% of GDP if the EU continues with its current economic policies, a tendency likely to be reinforced by the proposed constitution. This is according to a new study of UK membership of the EU by Professor Patrick Minford. The book, Should Britain Leave the EU?, is published on 2 June 2005.
In the book Professor Minford explains that this potential cost is so large because of:
Excessive regulation in labour and product markets; and
The UKs possible share of the enormous EU pension liabilities.
The cost of the EU to Britain is equivalent to the UK economy rem