Ten myths about Brexit

 

1. Leaving the EU would hurt the UK’s ability to trade with it.

  The fearmonger’s favourite argument. But fear not: the global economy has changed dramatically since Britain joined the EU in 1973, seeking entrance to a common market. The World Trade Organisation has brought down tariff rates around the world; even if we didn’t sign a free-trade deal with the EU, we would have to pay, at most, £7.5 billion a year in tariffs for access to its markets. That’s well below our current membership fee.

2. Three million jobs will disappear.

  A bogus figure, heard often from the likes of Nick Clegg. It dates back to a 2000 study from the National Institute of Economic and Social Research, which calculated the number of people whose jobs are linked to exports to European consumers. Would demand for these exports vanish if we pulled out of the EU? Of course not.

3. The City will decamp to Frankfurt.