David Cameron forced to admit EU global trade has fallen since UK signed up to Common Market
The PM also agreed that Britain desparately needs a trade deal with India
DAVID CAMERON was forced to admit the EU’s share of global trade has fallen since Britain signed up for the Common Market in early 1970s.
And he agreed the UK desperately needed a trade deal with India, as we currently export more ‘services’ to tiny Luxembourg than one of the fastest growing economies in the entire world.
Pressed by a member of the BBC studio audience, the PM admitted the EU’s share of global trade had fallen by a quarter – from 20 per cent to 15 per cent - since we signed up 44 years ago.
He insisted this had more to do with the meteoric rise of China than the EU’s own failings.
But Brexit backers last night said it showed how Britain can thrive if allowed to negotiate trade deals outside of Brussels.
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Tory MEP and Out campaigner Dan Hannan added it was scaremongering of the Remain campaign to suggest EU states would slap tariffs on the UK under a Brexit.
The UK currently buys £291 billion of EU goods each year, more than the £240 billion we sell to other EU states.
Mr Hannan told the Sun: “The point is, salesman rarely bully or threaten their customers.
“And find me any EU country where they restrict their market?”
Vote Leave chief Matthew Elliott added: “The EU sells far more to us than we buy from them.
“Of course they will want to do a deal with us.
“Otherwise it will be European jobs on the line.”
The PM last night insisted he was “absolutely convinced” the UK economy would “suffer if we leave”.
He stood by George Osborne’s threat of a ‘punishment’ Brexit Budget and said: “We will have less growth, we will have less jobs, we will have less livelihoods for people in our country.”