EU Debate NI | Consequences on our economy & the cost of membership
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EU Debate NI Toolkit

Leave – Jeffrey Peel, Business for Britain – Cost of Membership
Remain – Richard Ramsey, Chief Economist Ulster Bank, Impact on NI Economy

Consequences on economy & the cost of membership

This referendum is about how we spend our money as a country and how we sell our goods and services to the world.

The UK pays into the EU around £20 billion per year. Some of this money comes back to the UK in the form of farm payments, peace funding, infrastructure projects and other programmes.

The EU is also a trading block. This means that all EU countries can freely trade with each other, without any tariffs. As a member of the EU, the UK cannot make its own trade deals with other countries, such as China and Brazil.

Leave

  • The UK would be better off out of the EU economically
  • Trade would continue with the EU if we leave the EU
  • The UK could make its own trade deals with other countries which would suit the needs of the UK economy
  • The UK could spend the £20 billion paid into the EU on issues and projects that suit the needs of the UK

 

Remain

  • The UK would be worse off outside of the EU economically.
  • We don’t know what kind of deal we will be able to agree with the EU and this causes uncertainty
  • It may take many years to negotiate trade deals with other countries such as the U.S.
  • No guarantee that the UK government would continue to fund programmes in the same way as the EU currently does

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