Britain dodges £150bn bill from Brussels ‘simply by leaving’ says German MEP

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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:

“Let’s look at the facts. It is early days but according to the IMF the UK is expected to recover to pre-Covid levels by mid-2022, based on six percent growth this and next year.

“That is compared to a four percent EU recovery.”

“While the UK’s unemployment rate should average 2 percent, it is 4.2 percent for the eurozone.

“And simply by leaving, the UK is now saving €14 billion in terms of budget contributions each year.

“€17 billion for the SURE unemployment programme and a staggering €140 billion gross contributions for non-participation in Next Generation EU.”

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:

“We’re projecting now economic growth in the UK north of 6%,

“It should be the strongest year of economic growth in the UK since 1948. The wave we are riding, which other banks are riding as well, is real.”

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.

1 COMMENT

  1. Nice to hear some good news. When will the EU learn that we do not want to be divorced from the EU, we want to trade to the benefit of everyone in Europe. Instead of trying to punish the UK, show how we can both prosper. Many Countries in Europe depend on British visitors, please understand we want to visit ASAP.

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