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North West Exports To EU Worth £12 Billion Per Year - Farron

June 9, 2016 11:02 AM

Statistics released this week show that almost half of exports from the North West go to the EU - worth around £12billion per year to the local economy. Brexit would be a "leap in the dark" for businesses which export, according to South Lakes MP Tim Farron.

Government statistics show that in 2015, exports from the North West to the EU were worth £11.65 billion, which was 47% of the region's total exports. In the first quarter of 2016, exports to the EU were worth £2.97 billion, which is 49% of the total exports.

The bosses of Siemens, GlaxoSmithKline and Croppers - some of the biggest employers in South Lakeland - have all spoken out in support of the UK remaining in the EU.

It is unclear what will happen to the UK's trade deals if the country leaves the EU in the referendum on the 23rd June.

Tim said: "Trade with Europe is worth billions of pounds to the North West - we must not put this at risk by voting to leave. Businesses at the moment have tariff-free access to 500million consumers in the EU. Nobody knows what will happen to UK exports if we leave. New trade deals could involve significant tariffs on UK goods, and take years to agree. Brexit is a massive leap in the dark - nobody in the Vote Leave campaign has put forward any credible plans for the economy."