EU Trade

European countries will not stop trading with the UK if it votes to leave and anyone with “even an ounce of common sense” can see that, an MP has warned. Eurosceptic MP Philip Davies has attacked the pro EU lobby for wasting billions and being obsessed that Britain must remain in the EU to secure free trade. Speaking in Treasury questions the Shipley MP said: “Can the Minister explain why we are paying more than £10 billion net this year for a £68 billion trade deficit with a declining part of the world’s economy, when anyone with even an ounce of common sense knows that it is possible to have a £68 billion trade deficit with a declining part of the world’s economy for nothing?” Treasury Minister Damian Hinds said: “The fact is that for every pound that is paid in tax in this country, a little over a penny goes to the European Union. That is a cost—it is not a trivial cost and I do not belittle it—but what comes with it are the trade benefits, the enhancement of our economy and the protection of jobs and investment that we want to see.” Mr Davies, the first MP to call for Britain to leave the EU, said the Remain campaign were scaremongering over free trade and jobs.