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My position on the Euro is straight forward. The sooner we join, the
better. The advantages are clear:
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Britain
cannot afford to be isolated
Around 300,000 jobs in the East of England depend on our
ability to export to the European Union. Weakening our links
with Europe puts these jobs at risk.
Isolation will lead to lost trade, lost investment and lost
jobs. |
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Entry
will lead to long term prosperity
We are already losing out by not being part of the Euro. Over
half our trade is with Europe and British firms waste £12million
every day changing money. Shifting exchange rates create a climate
of great uncertainty for businesses, especially when they are
competing in a market where almost everyone else shares the
same currency.
In the past two years (the period since the launch of the euro)
there have been 5,300 job cuts in the East of England that managers
have attributed to the volatility of sterling.
Each unemployed person costs £12,000 a year in lost taxes
and benefits. An extra 5,300 people out of work costs the taxpayer
an extra £64 million pounds. |
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Prices
would be lower
Britons needlessly pay around 15% more for their shopping than
other Europeans. A typical British family would be £1,400
better off each year if we were members of the Euro. |
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British
tax bills will not be affected
The Maastricht Treaty, the European agreement that introduced
the Euro, says nothing about tax harmonisation and Britain still
has a veto on tax matters in Europe. |
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Public
spending would not suffer
Some people have argued that because the Maastrict treaty limits
borrowing, public spending in Britain would be cut. But we would
still have absolute control over our ability to raise and spend
taxes.
Some people fear that if we joined the Euro, Britain somehow
will no longer be Britain. But anyone who has visited France
in the last six months will tell you nothing much has changed
there. And there is absolutely no reason why it should here.
This is an argument we can and must win with the British people
– and it is essential that it we do. There’s far too
much to lose. |
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RICHARD ON...
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