UK Parliament / Open data

European Communities (Finance) Bill

The Minister said that it was in our economic interest to be in the European Union. When we went into the Union, we had a trade deficit with the EEC of £1.327 billion. That was recalculated to be £11.3 billion, and today's balance of trade deficit with the European Union is £38 billion. That represents 80 per cent. of our trade deficit. When we went in, it was only 50 per cent. How is that an economic positive?
Type
Proceeding contribution
Reference
467 c981 
Session
2007-08
Chamber / Committee
House of Commons chamber
Back to top