German MEP Gunnar Beck has claimed that Britain has saved £150bn already “simply by leaving” the EU.
In a speech to the European Parliament last week the German MEP suggested the success of Brexit was “the beginning of the unravelling of the EU.”
The MEP’s comments come as the eurozone slid into a double-dip recession in the first three months of 2021 and the EU’s output dropped due to strict coronavirus lockdown measures leaving the bloc lagging behind other major economies.
Mr Beck said:
In his speech to the European Parliament, the MEP attributed much of Britain’s success to its excellent vaccination programme. In contrast, figures released last week show Germany was Europe’s worst-hit major economy with a quarterly contraction of 1.7 percent, followed by Spain, Portugal and Italy also experiencing contracting economies.
By contrast, the UK economy grew 0.4 percent in February and Barclays Plc says it expects to see the strongest economic growth for Britain in over seven decades this year.
Barclays Chief Executive Officer Jes Staley said in an interview on Bloomberg Television last week:
According to Staley the 6.5% expansion will be fuelled by a “tremendous” pent-up demand from consumers and small businesses as vaccinations boost confidence following the pandemic. Spending data in the first two weeks of April were “very encouraging” and he anticipates Britain’s recovery will continue through 2022.
Barclays is not alone in its positive outlook. According to Bloomberg the median estimate of economists surveyed this month is for a 5.4% rebound.
Lloyds Banking Group Plc also upgraded its outlook for Britain on Friday, where most of the adult population has received a first dose of a vaccine. It now expects UK growth of 5% this year.