February 23, 2017

Brexit won’t just free us from Europe

Brexit won’t just free us from Europe

Brexit gives the UK a chance to lead the world to economic, political and personal freedom, argues Rory Broomfield.

This week, the Institute of Economic Affairs hosted the UK launch of the Heritage Foundation’s 2017 Index of Economic Freedom in London. Once again, no member state of the European Union was classed as “free” in the study. However, the index helps to illustrate how Brexit might give the UK the opportunity to lead the world in economic, political and personal freedom.

The Heritage Foundation’s 2017 Index of Economic Freedom has set the standard. It has shown the way. In its 23rd year, the Index has once again illustrated how nations such as Hong Kong, Singapore and Switzerland have been able to become the richest, most competitive and outward looking economies in the world. It has, alongside this, pointed to how the UK can be the global Britain both the government and the British people desire through adopting reforms that increase the prosperity of people, not just in the UK, but globally.

The principle reason the UK can become freer is through trade. The Index highlights that countries such as Singapore and New Zealand have increased their trade by cutting regulations, government spending and opened their markets to investment and growth opportunities that were not present previously.

Of course, the UK is already a beacon of foreign investment, with high rankings in overall investment, trade and financial freedom. Where it can, though, increase its potential is through domestic reforms to help decouple business regulation from the EU to allow for markets within the UK to develop and adapt to a new, more competitive, global environment. This is what Lord Lawson was talking about when he talked of the need to break free from 90 per cent of EU law that is holding back SMEs in the UK (i.e. most UK businesses). By doing so, the UK can become more diverse, competitive, innovative and prosperous.

The government can also help the UK grow through reduced spending. The big fear for the UK – Brexit or otherwise – is that government keeps on increasing the UK’s debt. In a world where changes in interest rates could mean large jumps in debt repayments, the government needs reduce government spending and the overall tax burden to help increase the nation’s financial health.

If we solve these issues – and create a society that allows for increased innovation, flexibility and change, the UK can (and I hope will) overtake over nations – both large and small – to become the shining example of how a developed and complex economy can reform to bring benefits, not just to themselves, but to the world.

This is because freeing markets don’t just increase the prosperity of those within the state or territory in question – it helps to lift us others who are involved in the process. This is most accurately demonstrated in the “I, pencil” concept described by the economist Milton Friedman and animated by the Competitive Enterprise Institute. In doing so, as illustrated in the Index, people become more inter-connected, opportunities increase, poverty decreases and people become healthier, more educated and happier.

But how can we take the lead in kick-starting this process?

Discussion over the best way for the lead is exactly the focus of this year’s Freedom Festival from 17th-19th March in the Marsham Court Hotel, Bournemouth.

At the Festival, there will be a range of thinkers and doers coming to speak and interact with the audience over a weekend of fun and serious debates.

With speakers including the Heritage Foundation’s Ted Bromund, Ruth Lea CBE and Secretary of State for International Development, the Rt. Hon Priti Patel MP, along with many others, there will be the chance to help inform the agenda and help make Britain free again.

Tickets are still available for the Festival but hotel places are going quick. To have a wonderful debate filled weekend by the seaside, book now and help us to lead the way forward for freedom.

4.44 avg. rating (88% score) - 9 votes
Rory Broomfield
Rory Broomfield is Director of The Freedom Association and the Better Off Out campaign. He is an authority on the EU and has written a number of books including his latest, co-authored with Iain Murray, Cutting the Gordian Knot: A Roadmap for British Exit from the European Union. He has previously worked in the City of London and in Westminster for a number of Members of Parliament, including the current Prime Minister, Theresa May; the current Chairman of the 1922 Committee, Graham Brady; and Sir Richard Shepherd.
  • Shadow Warrior

    Hammond is continuity Brown. He is a hand-wringing lefty looking for clever wheezes to raise more tax in ways that people don’t immediately notice.

  • captainslugwash

    I predict the Budget will attempt to show the Left how caring the Tories are, and it will be funded by screwing over the working man.
    If Corp Tax comes down, I bet Divi tax will be going up.
    I would love to be wrong.

  • skynine

    We really need to look at tax credits, in particular in work tax credits that encourage people to work part time to preserve the benefits. 45% of women work part time and I would hazard a guess that tax credits are the main cause. This leads to low pay, low skill work in supermarkets and the retail sector including coffee shops. The government needs to get back to the employer paying people to do a job for economic reasons rather than to get onto the tax credit ladder. Like all government benefits it distorts the market and diverts government expenditure into non productive areas.
    The refrain that the government has cut expenditure is not true, it increases every year as more and more goes into welfare.

  • MrVeryAngry

    fat chance

  • MrSauce

    So, when wouldn’t we want a ‘budget for growth’?

  • Rob

    I note that the UK Government has just slapped on a 25% tax charge for anyone moving abroad and wishing to move out their private pension from the UK.

  • SonofBoudica

    The Remoaners will do their utmost to sabotage the Government’s negotiating position. They do not want a successful outcome; they want a failure. They want to be able to scream “Told you so!” from the rooftops.

  • EnglandLaments

    Thank goodness for Andrew Neil, the one media hack who scares the pants off the established politicians. He was spot on with Heidi Allen!

  • joshuafalken

    I had a very long, hard, studied and considered look at the hope, care and aspirations of all Europeans, before I voted to get the UK out of the toxic grasp of Brussels.

    The European Union and it’s charge of “ever closer union” has borrowed and spent its way to oblivion, whilst enslaving the working and middle classes in debt.

    The central control mantra of the unaccountable Brussels ruling elite, delivered through a mixture of socialism, globalism and corporatism is entirely responsible for the populist revolt by the millions of “Just About Managings” across Europe.

    We must remember the ultimate goal of socialists, globalists and corporatists is control, not prosperity. see https://mises.org/blog/goal-socialists-socialism-—-not-prosperity.

    Social equality and economic growth always fail under central control and fighting against the Brussels doctrine on behalf of all Europeans is why I voted for Brexit.

    Britain has a long history of helping Europeans depose tyrants and Brussels is just the latest incarnation.

    Britain is the most racially advanced and accepting society on the planet. We welcome those in need and those that can help us with open arms and a smile; that will not change.

    We are also one of the most innovative, talented and open societies in the world, which why everyone wants to live here. However, we cannot fit everyone in, so we have to have clear, balanced and fair immigration policy which is where the arguments start between the monetarists and humanists will never be reconciled.

    I thought long and hard before coming to the conclusion that leaving the EU was in the best interest of all Europeans, as Brussels is toxic and cannot be reformed from within.

    Also, I find it insulting that people who voted Remain have insufficient faith in British ingenuity, compassion and skill to get a good deal for us and see the Europe that we love get a better deal from Brussels and the reform that European people deserve. https://mishtalk.com/2017/03/29/bad-brexit-deal-better-than-no-deal-mathematical-idiocy-odds-of-no-deal/ and https://www.worldheadlines.info/2017/03/after-brexit-9-reasons-to-be-bullish-on-great-britain/

    The politics of left verses right are dead because neither have delivered the promised economic growth and social mobility for anyone, but themselves. The populists are not selfish per-se, they just want to take back control of their own destiny that left/right politicians have freely given away and/or exploited for their own ends. In my constituency, the local residents group are taking over the councils as politicians ignore voters, so Westminster should beware of the well-organised, local resident independents at the next election. This is a peoples revolution which should be shouted from the rooftops, but liberals remained deafened by the socialist, globalist and corporatist “vested interests” that have spectacularly failed us and are obediently crying foul and fake.

    There will be an initial unpalatable inflationary cost to fighting globalism and rolling back central control that few appear to have factored in, but dismantling failed left/right vested interests should eventually free libertarian socially-conservative capitalism from the shackles of TBTF corporatism to feed economic growth and social mobility.

  • agdpa

    The EU usually makes the wrong decision – on immigration, on freedom of movement, on the euro, on the Ukraine, etc. etc. Little hope it will get Brexit right.

  • brownowl

    Eh? Reference please!

  • Neil2

    Sod caring. Screw the spongers and breeders. Kill HS2. Stop all “green” subsidies. Slash “foreign aid” and walk away from the EUSSR with immediate effect.

  • Rob
  • John C

    What a confused article. It conflates surveillance by the security services with poor defences against fraud.

  • John C

    Err, it’s the UK that’s leaving the EU, not vice versa.

  • John C

    Me, now. ‘Growth’ is a manic obsession.

  • La Face Nord

    Mr Redwood – are you aware of the Biased BBC website? It’s been exposing their agenda for a long time, but I imagine you’ve been well aware of the BBC’s agenda for quite some time…

  • Contact Rvtech

    The post is great

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