Friday, June 1, 2012

I told you so - 47 years ago

The following article was published in the Chelsea Young Conservative’s magazine “Force” in Autumn 1965:

The Common Market
Economic Disadvantages
By John Strafford

Although entry into the E.E.C. would bring benefits to Britain (i.e. membership of a major world market that is rapidly expanding) the economic advantages would be outweighed by the following disadvantages:
1. Loss of national sovereignty.   Britain would not retain sufficient economic freedom to counter – for example – any excessive depression or deflation affecting a leading member of the community.
2. Commonwealth producers who rely on tariff-free entry into Britain and receive preferential treatment for their products would suffer.   Commonwealth trade is a two-way affair – no less than 40% of British trade is done with Commonwealth Countries.
3. The British system of support for agriculture could not survive entry into the market; the adoption of the European system would increase the average level of food prices.
4. Immigration of low paid workers under the free movement of labour scheme could lead to a reduction in the standard of living;
5. The inevitable liquidation of E.F.T.A. would mean a loss of trade.
Economically (and also politically) entry into the Common Market on the terms proposed would be national suicide.   France prevented Britain’s entry into the Common Market last time she applied for membership, so does the Common Market really want Britain?

It was all so predictable!

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