Withdrawing from the Single Market and relying on WTO rules is best for Britain

The experts will be proved wrong about the necessity of the Single Market, says William Loneskie

Europhiles say that the Single Market which replaced the Common Market in 1993 is such a wonderful thing that being outside it would be a disaster. They say that the UK falling back on World Trade Organisation (WTO) rules would cost Britain billions. I do not agree.

The UK exports to over 100 countries under WTO rules. But UK exports to these countries have grown on average year on year by 3 per cent, whereas UK exports to the EU have stagnated at under 1 per cent. Countries outside the EU exporting to the EU have consistently outperformed countries within the EU exporting to other countries within the Single Market.

Consider, for example, the performance of Scotch whisky exports compared with American bourbon exports into the EU. Twentyfive years ago bourbon was of little significance in the EU. But over the period 1993-2014 bourbon exports rocketed by 430 per cent while in the same time-frame exports of Scotch grew by only 39 per cent.

Of the top 40 fastest-growing exporters to the EU original Single Market the UK would be placed 36th, hardly a ringing endorsement of the customs union. Taking back control under WTO rules requires no payment, unlike the £84 billion we would have to pay under Barnier’s terms just to escape the EU.

Returning to the unfettered position of a world trading nation unhampered by the rules drawn up by an unelected European Commission should be considered the