Forman & Son MD Lance Forman wants to do business with the Global market
PUBLISHED: 09:18 03 August 2016 | UPDATED: 09:18 03 August 2016
CARMEN VALINO ALL RIGHTS - on shift
Unsurprisingly, now that Britain has voted to leave the EU, the EU is re-examining whether it can offer us a better deal; a seven-year emergency brake on immigration.
Like many in the Remain camp, the EU seems to think that the decision was all about immigration. Well to some extent it was, but this was far from the main issue.
In business you learn that you can be far more effective by focusing on positive opportunities than defending against negative threats.
In 2000, 60 per cent of British exports went to the EU and by 2015 this has shrunk by almost a quarter to 47pc. In the same period our imports from the EU have remained at a consistent 54pc. So clearly the EU doesn’t like buying our products and services as much as we like purchasing theirs; indeed in the last year, we imported £61bn more than we exported.
Meanwhile our exports to the rest of the world are continually growing and are bigger than our exports to the EU.
Indeed we now export £28billion more to the rest of the world than we import. And that is without us having trade deals with those countries.
Being in the single market means that every business in Britain, whether it exports to the EU or not, suffers from all the EU red tape, rules and regulations.
An independent organization called Open Europe calculated the cost of complying with just the most onerous regulations being £33bn last year.
So let’s be very clear. We do not want to be in the single market! Yes, we want to export to it and import from it, like every other country around the world does, but being in it is a disadvantage. The global market is a much more attractive proposition. More from Lance
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