Better Off Out: The Benefits or Costs of Eu Membership (Occasional Paper, 99)

The first edition of this controversial book in 1996 significantly influenced the debate about Britain's relationship with the rest of the European Union. Its analaysis of the costs and benefits of EU membership showed that they are finely balanced: there is no basis for the claim that if Britain were to withdraw from the EU there would be 'dire economic consequences'. Adherence to the Common Agricultural Policy is the major economic cost of EU membership. Escape from the CAP would be a clear gain but would be offset or partially offset by some increase in tariffs on British exports or ther EU countries and (possibly) some loss of inward investment. Intangible costs of membership include the costs of EU regulation. This new and revised edition of Better Off Out? brings up to date the estimates made in 1996 and shows that subsequent studies have independently confirmed its conclusion that the net economic effect of EU membership is close to zero. It does not argue for Briain's withdrawal. But, the authors say, withdrawal should 'not be dismissed as a practical option for the nation, if membership imposes conditions that the country finds onerous'. Machine Generated Contents Note: Introduction To The Second Edition: -- The Small Effect Of Eu Membership On -- British Economic Welfare -- Note On The Revised Edition -- 1 Introduction: Reasons To Assess The Costs And Benefits Of Britain's Eu Membership -- The Debate -- Why The Economic Costs And Benefits Should Be Assessed -- European Monetary Union -- Assessing Costs And Benefits -- Political And Economic Issues -- A Cultural Difference In Approach To Markets -- Costing Membership And The Meaning Of Withdrawal -- Organisation Of The Paper -- 2 The Ec Single Market And The World Trading System -- The 'internal' Market In The Context Of The European Union -- A Comparison Of The Ec Single Market And The World Trade System After The Uruguay Round -- 3 Possible Alternatives To Eu Membership -- The Alternatives: A Critique -- Mechanisms Of Withdrawal From The European Union -- 4 Economic Costs And Benefits Of Withdrawal -- Putting The Eu Into Perspective -- Gains And Losses -- 5 Better Off Out? Some Conclusions -- Tariff Barriers And The Cap -- Non-tariff Barriers To Trade -- Other Economic Costs Of Eu Membership -- Consequential Effects Of Primary Costs And Benefits -- Fears Associated With Leaving The Eu -- What Could The Eu Do? -- What Do The Economic Costs (or Benefits) Of Withdrawal Signify? -- Appendix A: Economic Assessments -- I The Common Agricultural Policy -- Sources Of Error -- Ii Eu Import Duties -- Calculating Average Tariffs -- Dependence Of British Industries On Exports To The Ec -- Iii Foreign Direct Investment -- Impact Of Fdi On The British Economy -- Iv International Transactions In Services -- Costs And Benefits Of Withdrawal -- Appendix B: The Basis Of Comparison: The World Trading System -- Introduction -- The Uruguay Round, Gatt 1994 And The Marrakesh Agreement -- Disputes Settlement Under The Wto Regime -- Relationship Between The Ec And Gatt -- About The Iea. Brian Hindley, Martin Howe. Includes Bibliographical References. "The first edition of this controversial book in 1996 significantly influenced the debate about Britain's relationship with the rest of the European Union. Its analysis of the costs and benefits of EU membership showed that they are finely balanced: there is no basis for the claim that if Britain were to withdraw from the EU there would be 'dire economic consequences'." "Adherence to the Common Agricultural Policy is the major economic cost of EU membership. Escape from the CAP would be a clear gain but would be offset or partially offset by some increase in tariffs on British exports to the other EU countries and (possibly) some loss of inward investment. Intangible costs of membership include the costs of EU regulation." "This new and revised edition of Better Off Out? brings up to date the estimates made in 1996 and shows that subsequent studies have independently confirmed its conclusion that the net economic effect of EU membership is close to zero. It does not argue for Britain's withdrawal. But, the authors say, withdrawal should 'not be dismissed as a practical option for the nation, if membership imposes conditions that the country finds onerous'."--Jacket Presents an analysis of the costs and benefits of EU membership. This book shows that the net economic effect of EU membership is close to zero. It does not argue for Britain's withdrawal. But, it says, withdrawal should 'not be dismissed as a practical option for the nation, if membership imposes conditions that the country finds onerous'.