UK faces £11bn in EU trade costs if it leaves EU

Container port in the sunset. CC0 Public Domain

Britain would be landed with £11bn in new tariffs if it left the EU and did not get a free trade agreement, according to the leader of the group campaigning to stay in. Lord Rose, who heads Britain Stronger in Europe, published research suggesting that the UK would have to begin trading with the EU using World Trade Organisation rules, which would cost businesses and consumers more…

The Remain campaign website for the European referendum

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The Britain Stronger in Europe campaign said this would be equivalent of £176 for every person and £426 for every household in Britain. The figure is based on UK imports from the EU at a value of £220bn, facing a tariff set at at a level of “most favoured nations”.

The research was designed to back up claims by Sir John Major, the former prime minister, that the UK is on a dangerous course by flirting with leaving the EU while the rest of the world is coming together. [The Guardian]

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