On money

Leaving the EU would mean more money in your pocket

  • Freedom from excessive regulations and contributions to the EU budget will significantly lower costs for business and save the treasury billions of pounds per year.
  • The overall EU budget totals €155bn, of which a massive €9bn is spent just on administration costs.
  • Britain’s EU payments are huge – our net contribution to the EU has risen by over 100% in the last decade, in 2016 it will total more than £15.7 Billion.
  • The value of our rebate is falling – we receive back less than 50p for every £1 we put in.

Leaving the EU would save the UK would save a huge amount of money. Not only would we save some £15.7 Billion per year on our net EU contribution; we would also be free from numerous, costly subsidies and tariffs imposed on us by the EU.

For instance, the UK would no longer be forced to subsidise farmers in other EU countries (UK consumers currently get a very bad deal out of the Common Agricultural Policy, or CAP, which effectively adds around £400 to each family’s living costs each year).  UK policy-makers would also have much greater control over our VAT rates (and we would no longer have to send VAT revenue to the EU).

Ultimately, leaving the EU could lead to more money in individual pockets. What’s more, it would give our government the freedom to spend all those billions we’d save on arguably higher-priority areas, such as the NHS, education, or housing.

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