Britain in Europe's True Agenda Exposed

The group Britain in Europe, formed to campaign in favor of the UK's membership in the single currency, has been caught deceiving the public about its intentions. In reality, the group's leaders want to drive the UK towards joining the euro zone, despite the majority of British businesses and trade union members opposing it. Surveys consistently show that only a minority of businesses favor early entry into the euro zone, and Britain in Europe has been forced to change its tactics to win business support.

Key Takeaways:

  • Britain in Europe was formed to campaign for the UK's membership in the single currency, but its leaders now claim to promote the UK's membership in the European Union, which is a different thing.
  • Most businesses, including those in favor of remaining in the single market and the EU, oppose joining the euro.
  • Surveys consistently show that a majority of the public, businesses, and trade union members oppose joining the euro.
  • Britain in Europe's leaders are speaking for themselves, and the group's real agenda is to drive the UK towards joining the euro zone.
  • The group is now reluctant to make a positive case for joining the euro zone, and has no plans to address the potential risks and downsides.
  • Economic concerns such as the wrong interest rate, higher taxes and employment costs, and more regulation could outweigh the potential benefits of being in a regional currency zone.
  • Business for Sterling, of which the author is a treasurer, consists of nearly 100 leading businessmen and economists, and is supported by the Institute of Directors and the Federation of Small Businesses.
  • Small and medium-sized businesses, responsible for nearly two-thirds of Britain's output, believe that the best future for Britain lies in the EU and the single market, but with its own currency and in control of its own economy.

Statistics:

  • 3.7m businesses in the UK oppose joining the euro (as stated in the text, no specific data source is provided for this statistic).
  • Less than 15% of Britain's gross domestic product is involved in trade with the euro zone.
  • Nearly two-thirds of Britain's output is generated by small and medium-sized businesses (as stated in the text, no specific data source is provided for this statistic).

Sources:

  • Financial Times Limited 1999. All Rights Reserved.