Press Release, 15th June 2007

PATRICK MINFORD SAYS TIME TO BRING DOWN THE PROTECTIONIST BARRIERS IN THE EU FOR THE SAKE OF GROWTH AND THE CONSUMER.

A new paper by Patrick Minford for Global Vision concludes that the EU’s protectionism not only reduces living standards by a steady fraction due to the inefficiency in production and consumption; it also retards growth by putting barriers to the inflow of new capital and technology into new sectors of the economy.

Minford says it is time the UK did something about it – either by promoting the idea inside the EU that the hand of those with consumer interests at heart should be strengthened, or by asking for the return of powers over trade and competition so that the UK can bring down its own barriers.