The UK’s net contribution to the EU is £110-135m per week. This compares to UK public spending of almost £14.5bn per week. Thus, at much less than 1% of UK spending, the cost of our EU membership is not prohibitive.
So, if it’s not about the money, what is it about? In this note we examine five points of contention around our EU membership: immigration, regulation, trade, sovereignty and, related to the last of these, the direction that the European project is taking.
We then touch briefly on what Prime Minister David Cameron achieved in his renegotiation and consider some broad summary points on the referendum itself. We then conclude by turning to the possible impact of the referendum on investment markets and hence portfolio positioning.
Saunderson House is running two seminars on 26 May entitled ‘Brexit: the impact from a legal, economic and investment viewpoint’ at a venue close to Liverpool Street Station in London. For more details please click here