Former Brexit Party MEP criticizes EU over Northern Irish border
Last week, European Commission Vice-President Maros Sefcovic presented the UK with a package of measures to address post-Brexit trade concerns in Northern Ireland. These included the elimination of 80% of regulatory controls and the reduction of customs processes on the movement of goods between Britain and the island of Ireland. But the European Union’s proposals fall far short of the UK’s demands, which include the removal of the European Court of Justice (ECJ) as the final arbiter in any future trade dispute between the two sides.
Brussels officials are growing impatient and have hinted that there could be a trade war if the UK does not give in to some of the key issues Lord Frost has raised.
However, a shocking report from Facts4EU.Org suggests that the EU’s ‘British treasure island’ accounts for 69% of the bloc’s global trade surplus.
In the 12 months leading up to the end of August, the report found that EU merchandise sales to the UK amounted to Â£ 252.2 billion.
EU purchases from the UK were just under half of that at Â£ 131.7 billion, meaning the EU’s trade surplus – the difference between exports and imports – amounted to Â£ 120.5 billion.
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Brexit news: EU trade with UK totaled Â£ 252.2 billion
As a result, trade with the UK provides 69% of the EU’s total trade surplus with the rest of the world, which stands at Â£ 175.4 billion, suggests Facts4EU.org.
The group explained in its report: âIn the case of UK relations with the EU over the past 12 months, this difference is glaring.
“The balance in favor of the EU is now over Â£ 120 billion a year.
“This is about 10 times the UK’s gross contribution to the EU when it was still a Member State.
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âThe EU’s total international trade surplus over the past 12 months up to the end of August 2021 was Â£ 175.4 billion (â¬ 199.9 billion).
“The UK accounted for 68.7%, or 120.5 billion pounds sterling (137.4 billion euros).”
The analysis also suggests that, for the 12-month period, trade data shows that the EU sold an average of Â£ 691 million worth of goods to the UK every day.
There is also a huge gap between what the EU27 sells to the UK – and what the UK sells to the EU27 – with the bloc’s sales to Britain now being 91% higher than the UK’s sales. United to the EU.
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In addition, data shows that one in seven international sales from the EU go to UK businesses and the UK public as a whole.
Facts4EU explained: âOur research shows that one in seven purchases of EU goods (by value) that are made outside the EU are from Brexit Britain.
âAny EU business faced with such a high proportion will do everything possible to ensure that it can continue to generate this income.
âTo put it simply, the majority of companies operate with a profit margin of less than 10%.
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“The UK accounts for 13.7% of all EU27 sales globally. Putting that at risk will certainly attract the attention of most EU boards.”
Reacting to the report, European Research Group Vice-Chairman David Jones said: âIf the Commission really cares about the interests of EU companies who ultimately pay their handsome salaries, they will quickly agree to reasonable terms with the UK.
âOtherwise, they will be the losers. “
Conservative Party MP Sir John Redwood also said: “British consumers will buy more local items, the more the EU threatens us.”
âWe have lost market share in steel and cars, in fish and agricultural products, in energy and flowers.
âThey would be unwise to start a trade war.
âThe UK can now rebuild domestic production by saving imports, replanting our orchards, building new greenhouses, catching our own fish, making more of our own cars.
“British consumers will buy more local items, the more the EU threatens us.”