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November 09, 2004
Mandelson admits that EU regulation costs 4% of GDP
In a speech to the CBI Peter Mandelson, the EU Trade Commissioner designate, said that EU red tape cost about 4% of GDP. It was partially offset by a 2% addition to GDP, which he attributed to the Single Market.
Having admitted that the EU is a drag on our economy, he then goes on to say that the solution is to give the European Commission even more power to sort things out! Nice try!
Posted by David Green at November 9, 2004 03:36 PM
Comments
As the government has refused on several occasions to hold a cost benefit analysis of our involvement in the EU, I do not see how Mr Mandelson can justify his remarks. I suspect that we will hear a lot more about the benefits of the EU, and the costs of leaving in the run up to the referendum on the Constitution. However, the Government cannot claim any overall benefits until they can prove them.
Posted by: Ken at November 11, 2004 12:29 PM
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