§ Michael FabricantTo ask the Secretary of State for Foreign and Commonwealth Affairs on what date the Government last undertook a cost-benefit analysis of United Kingdom membership of the European Union, including(a) indirect costs and benefits and (b) direct costs and benefits. [188781]
§ Mr. MacShaneUK membership of the European Union is vital for British jobs and prosperity. There is broad consensus among academics that UK membership of the European Union promotes growth, competitiveness and employment through the operation of the internal market. Our trade with Europe accounts for 3 million British jobs. 53 per cent. of our total imports of goods and services are from Europe. 50 per cent. of our total exports of goods and services go to Europe. And 65 per cent. of our investment overseas now goes to Europe.
The Government continually consider the direct and indirect costs and benefits of specific EU legislative proposals, in the context of ongoing European policy development.