It is high time Britain left the ailing EU and its burdensome regulations and embraced trade with fast-growing emerging economies. That was the argument put forward by Nigel Farage at his keynote speech this morning at the Ukip conference. It’s an argument that also chimes with a growing body of opinion about the EU’s diminishing importance for British trade, with recent trading statistics showing that Britain’s non-EU exports have risen to their highest levels since records began in 1998 while exports to the beleaguered eurozone continue to fall. However, the idea that Britain’s economic prospects would actually improve were it to leave the EU is deeply misguided.
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