- Posted by: Valerie Vaz MP
- Category: News
I was interviewed by Tanmanjeet Dhesi about the upcoming EU referendum for the Sikh Channel on Monday 23 May 2016.
The benefits of EU membership to the UK economy and people are substantial.
Over 200,000 UK Businesses, both large and small, are dependent on trade with Europe. The EU accounts for about 50% of UK trade, meaning that it is Britain’s largest trading partner. Our EU membership makes us a major player in world trade. Britain is stronger negotiating deals with countries like China and the USA as part of the EU group of 28 nations than we would be on our own.
Over 3 million UK jobs are linked to trade with Europe. In the West Midlands, 67% of manufacturing jobs are linked to exports to the EU. If we leave the EU, these jobs are at risk. Britain receives on average £26.5 billion of investment every year from other EU countries.
EU membership benefits consumers and families. The Government has noted benefits to UK consumers of up to 6% higher income per capita (in the region of £3,300 a year per household) as a result of being part of the EU single market. British families also save on average £450 a year at the checkout and consumer rights are protected.
The EU has helped to keep the peace in Europe for decades, and at a time of instability in Ukraine and the Middle East. Britain is better off working together with our neighbours to solve problems such as terrorism and cross-border crime.
It is clear that being in the European Union brings us jobs, growth and investment.
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