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| Economy |
| Staying in the EU could benefit Britain by £10bn annually, says David Cameron |
| 2013-05-12 |
David Cameron will today confront his Tory critics by making the positive case for continuing European Union membership as he holds talks with President Barack Obama over a giant US-EU trade deal that could provide a £10bn annual boost to the British economy. With his party in renewed turmoil over Europe, the Prime Minister will also seek to reassure the White House that Britain – which senior figures in the Obama administration have insisted they regard as a crucial member of union – is not heading for the exit door of the EU. The planned agreement would establish a free trade area between the world’s two largest trading blocs, creating a transatlantic market of 800 million consumers. The White House talks are designed to pave the way for next month’s meeting of G8 leaders in Lough Erne, Northern Ireland, where Mr Cameron hopes negotiations will begin on the planned agreement. Writing in today’s Wall Street Journal, Mr Cameron says: “This deal could add as much as £10bn to the British economy and £63bn to US GDP. But the rest of the world would benefit too, with gains that could generate €100bn worldwide.” The Government last night released research suggesting a US-EU compact sweeping away trade barriers would particularly benefit the automotive, financial and chemical sectors. It claimed the deal could be worth £380 a year for each British family. Karel de Gucht, the European Commissioner for Trade, has cited the deal as a prime reason for why Britain should stay in the EU, telling The Independent last week that it would be “clear madness” for the UK to leave in light of such a deal. Today’s talks will also focus on the crisis in Syria, with Mr Cameron pressing for an intensification of diplomatic efforts to force President Bashar al-Assad’s regime to relinquish power. |
| Posted by:tipper |
| #2 This would be the same Britain that Obama so obviously hates, correct? |
| Posted by: Raj 2013-05-12 23:14 |
| #1 Related? Looks like the dogs of economic trade war are about to be released |
| Posted by: tipper 2013-05-12 20:35 |