Should Britain Leave the EU?

An Economic Analysis of a Troubled Relationship, Second Edition

2nd edition

Patrick Minford, Professor of Applied Economics, Cardiff Business School, Cardiff University, UK with Sakshi Gupta, Economist, CRISIL, India, Vo Phuong Mai Le, Lecturer, Cardiff Business School, Cardiff University, UK, Vidya Mahambare, Associate Professor of Economics, Great Lakes Institute of Management, Chennai, India, Yongdeng Xu, Researcher, Cardiff Business School, Cardiff University, UK

This second edition brings up to date a thorough review of all economic aspects of the UK's relationship with the EU, which also puts it in the political context of the upcoming referendum. It notes the intention of the EU to move to 'ever closer union' and the nature of the regulatory and general economic philosophy of the dominant countries of the EU whose writ is enforced by qualified majority voting. The book highlights the UK dilemma that, while extending free markets to its local region is attractive, this philosophy and intended union are substantially at odds with the UK's traditions of free markets and freedom under the common law.


‘The policy framework advocated by Minford et al. . . is grounded in economic theory and an incisive empirical analysis of the costs of UK’s membership of the EU. Their thesis that the EU is a political union practising economic protectionism in the guise of gradualism towards free trade makes sense. . . Minford and his associates’ analysis suggests that the EU’s policy framework of free trade for members but restrictions on trade of non-members with the EU countries is a second best policy adopted to promote political rather than economic objectives.’
– V.N. Balasubramanyam, Lancaster University, UK

‘The EU got the Nobel Prize for Peace in 2012, but such an award is not forthcoming for economics. In fact, the EU faces a stern public discontent throughout Europe. For years EU leaders have been unable to agree on almost anything. The eurozone’s toxic monetary embrace is a colossal failure that has provoked misery in most of the participating countries and, worst of all, suffocated the hopes of prosperity for many years to come. The EU is no longer a venture that inspires people to run on barricades to defend it. Should Britain be a part of the crumbling EU project? This book provides a timely and documented answer. It is highly recommended reading.’
– Miroslav N. Jovanović, University of Geneva, Switzerland

‘Much too much of the debate about the UK’s relationship with the European Union relies upon general declarations unsupported by facts and assertions and claims not substantiated by evidence. This is why we need so badly the careful quantitative analysis provided by Patrick Minford and his colleagues. The UK electorate will have a momentous decision to take when the EU referendum takes place. History and emotions will be important, but getting the facts straight is even more vital.’
– John Mills, Founder and Chairman of JML and Co-Chairman of Business for Britain

'Patrick Minford and his team have performed a hugely valuable service by quantifying the costs of Britain’s EU membership. In particular, they show that Britain pays too much for too high a proportion of its imports. The EU’s protectionism in its trade with the rest of the world costs Britain a significant slice of its national output. Their demonstration of this vital point is thought-provoking and sophisticated, and greatly strengthens the case for the UK to leave the EU'
– Tim Congdon, CBE, International Monetary Research Ltd

‘Whether you are IN or OUT, this is certainly a book worth reading, in order to gain some knowledge and insight into both sides of the argument.’
– Breakaway Reviewers

2016 200 pp Paperback 978 1 78536 034 3 £32.00 £25.60 $52.95 $42.36
2016 200 pp Hardback 978 1 78536 032 9 £79.00 £71.10 $115.00 $103.50

Elgaronline 978 1 78536 033 6

Edward Elgar Publishing Ltd. is registered in the UK at: The Lypiatts, 15 Lansdown Road,
Cheltenham, Glos GL50 2JA. Registered number: 2041703

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