The Sunday Telegraph has news that Boris Johnson will give a speech next week in which he will throw his weight behind a report, published by Volterra, calling for Britain to renegotiate its membership of the EU. The Telegraph reports:
‘The capital’s gross domestic product (GDP), currently £350 bn — or just over a fifth of the UK economy — would grow to £640 bn by 2034 if Britain stayed in a reformed EU and adopted policies encouraging more trade with the world’s fastest-growing markets, the report will say.
But if the UK left the EU, while pursuing its own trade-friendly policies regardless, the London economy would still grow to £615 bn over the next 20 years.
Staying in an unreformed EU would see London’s GDP expand to just £495 bn by 2034, Volterra estimates.’
Boris Johnson’s economics advisor Gerard Lyons told the Telegraph: ‘Britain can only achieve meaningful EU reform if it’s serious about leaving.’
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