Mark Carney lays out benefits of EU membership

22 October 2015

The benefits of EU membership have been highlighted by the Governor of the Bank of England, Mark Carney, who suggested that Britain is the ‘leading beneficiary’ of membership.

The central banker, who leads the institution which sets interest rates on mortgages, loans and savings, suggested that the British economy was more ‘dynamic’ as a result of EU membership, arguing “although the UK’s dynamism is the product of many factors… the EU has arguably bolstered it by establishing the world’s largest since market with free movement of goods, services, capital and labour”.

His remarks are likely to be taken seriously across the economic and political spectrums, as the Canadian is regarded as one of the leading economists in the world.

Carney’s remarks come off the back of a new report for the CBI, which suggested that British business was bolstered by membership. It said that “the EU single market gives UK business more customers - helping businesses grow and create jobs.”

The report also suggested that continued EU membership lowered prices in shops, and made the North-East and the rest of the UK  better off as a result. The report said “making it easier to trade in the European Union can lower prices... and increase choice for UK consumers”.

Do you think the North East needs its own voice in the EU exit negotiations?

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