What are the Brexit benefits? The latest figures show again how the UK is the place to be.
Worried about your job? You would be twice as worried in the Eurozone
Worried about rising prices? It’s worse in the Eurozone
Worried about a recession? It’s worse in the Eurozone
Whether it’s unemployment, inflation, or economic growth — as in today’s report — or other key measures, Brexit Britain is continuing to outperform the Eurozone — and the wider EU.
If the UK ever rejoined the EU, which a small but highly vocal minority are clamouring for us to do, we would be forced to join the Euro. (Something Nicola Sturgeon also needs reminding of constantly.) I will therefore continue to tell Rejoiners about the Eurozone each time new figures are released by the EU Commission.
Unemployment in the Eurozone remains stubbornly high, compared to the UK
Latest official figures for Sept 2022
- The average unemployment rate in the UK: is 3.5% (the lowest for 48 years)
- The average unemployment rate in the Eurozone: is 6.6%
[Sources: ONS (UK) and EU Commission (EU).]
Youth Unemployment is much lower in Brexit Britain
- Average youth unemployment rate in the UK: 7.5% (and falling)
- Average youth unemployment rate in the Eurozone: 14.6% (and rising)
[Sources: ONS (UK) and EU Commission (EU).]
As the Brexit Minister, the Rt Hon David Jones MP said
“There is no doubt that the Covid pandemic and Russia’s aggression in Ukraine have had an economic impact. But if we were to listen to the Rejoiners, who don’t miss any opportunity to talk Britain down, we might conclude that the damage was confined to the UK.
“This new report reveals the truth: that while we are certainly going through difficult times, the EU economy is experiencing worse problems.
“On every measure — inflation, unemployment and growth — the British economy is proving more resilient than the EU’s, demonstrating yet again that a nimble, independent UK is better placed to address global challenges than the lumbering EU brontosaurus.”
2. Inflation is worse in the Eurozone than in Brexit Britain
All readers will ever see on the BBC are gloomy reports each time inflation figures are released. What they fail to tell their viewers is that the situation is worse in the Eurozone than in the United Kingdom.
Below I show the latest annual inflation rates for the UK and for the Eurozone in September 2022. I have used the preferred measure for inflation used by both the Office for National Statistics (ONS) and by Eurostat (the EU’s equivalent of the ONS). It is known as CPIH and is deemed to be the most accurate measure of consumer price inflation.
Annual Consumer Price Inflation, Sept 2022 — the UK compared with the Eurozone
- UK: 8.8%
- Eurozone: 9.9%
[Sources: Office of National Statistics | Eurostat ]
3. Economic Growth — faster in Brexit Britain
Finally, economic growth is faster in the UK than in the Eurozone or EU27. According to the IMF, Brexit Britain had the fastest-growing economy in the G7 last year (2021). Not only that but the IMF forecast Brexit Britain will retain its №1 position this year too.
Again as former Secretary of State and former Single Market Minister, the Rt Hon Sir John Redwood MP said
The Eurozone is stranded with low growth, high inflation, high unemployment and rows over who should pay all the bills.
Out of the EU, the UK is free to do better with policies that suit our needs. We no longer have to pay to subsidise the failed EU model.
Economic Growth — the UK compared with the Eurozone
2021 — Actual figures
- United Kingdom: 7.4%
- Eurozone: 5.2%
2022 — IMF’s forecast for this year
- United Kingdom: 3.6%
- Eurozone: 3.1%
[Source: International Monetary Fund.]
Conclusions
On three key measures — jobs, prices, and economic growth, Brexit Britain is continuing to do better than the Eurozone — and the rest of the EU, come to that.
I am publishing this summary report not to gloat, but to counter all the negativism coming out of №10 and №11 Downing Street, all of which is lapped up by the BBC and by Rejoiner organisations. like the European Movement UK who is telling outright lies
The context is important here — what happened to “the cliff edge”?
In any comparison of EU and UK economic data, it is important to put this in the context of the apocalyptic threats from the Government and the Remain Establishment of what would happen if the British people voted to leave the European Union.
Firstly, the issue of jobs was hammered home by the Establishment Remainers during the EU Referendum campaign. It was a key part of Project Fear.
One of the many dire threats came from David Cameron, George Osborne, and HM Treasury. We were told that the UK’s jobs would be hit hard, with between 500,000–820,000 job losses immediately. It should be noted that this was said to be the immediate impact of a Leave vote, not something that would happen over time.
Instead, the opposite happened.
Even if there had been some economic falls, people voted for freedom despite the cost
MY report today clearly shows just how wrong the Remain Establishment were, more than six years on from the Referendum. It should be remembered that even people in areas where major local employers were said to be ready to close UK factories and move to the EU, such as the North-East, people still voted to leave.
Their independence and ‘taking back control’ was more important to them.
According to everything we were threatened with by the Remain Establishment, I should have been spending my days over the past six years writing reports stating “Well, yes, there have been some initial setbacks but it will all come good in the end.”
Instead, I have consistently been able to research and publish reports like the one above, demonstrating how much better Brexit Britain is doing than the EU.
Now that’s worth setting off a few Bangers, tonight.
Sources: Eurostat | ONS | IMF | HM Treasury
