Brexit Benefits – Latest figures show again how the UK is the place to be
CIBUK.org
Posted On November 5, 2022
Montage © CIBUK.Org
This report has been co-published with our affiliated organisation, Brexit Facts4EU.Org. We are most grateful for their original research into the raw data which backs what follows.
Worried about your job? You would be twice as worried in the Eurozone
Worried about rising prices? It’s worse in the Eurozone
Worried about a recession? It’s worse in the Eurozone
CIBUK.Org looks at the latest data on jobs, prices, and economic growth
Whether it’s unemployment, inflation, or economic growth – as in today’s report – or other key measures, Brexit Britain is continuing to outperform the Eurozone – and the wider EU.
If the UK ever rejoined the EU, which a small but highly vocal minority are clamouring for us to do, we would be forced to join the Euro. (Something Nicola Sturgeon also needs reminding of constantly.) We will therefore continue to tell Rejoiners about the Eurozone each time new figures are released by the EU Commission.
1. Employment / unemployment
Summary
Unemployment in the Eurozone remains stubbornly high, compared to the UK
Latest official figures for Sept 2022
- Average unemployment rate in the UK : 3.5% (the lowest for 48 years)
- Average unemployment rate in the Eurozone : 6.6%
[Sources: ONS (UK) and EU Commission (EU).]
© Brexit Facts4EU.Org 2022 – click to enlarge
Youth Unemployment is much lower in Brexit Britain
- Average youth unemployment rate in the UK : 7.5% (and falling)
- Average youth unemployment rate in the Eurozone : 14.6% (and rising)
[Sources: ONS (UK) and EU Commission (EU).]
© Brexit Facts4EU.Org 2022 – click to enlarge
Commenting on our report, former Brexit Minister the Rt Hon David Jones MP told us:
“There is no doubt that the Covid pandemic and Russia’s aggression in Ukraine have had an economic impact. But if we were to listen to the Rejoiners, who don’t miss any opportunity to talk Britain down, we might conclude that the damage was confined to the UK.
“This new report reveals the truth: that while we are certainly going through difficult times, the EU economy is experiencing worse problems.
“On every measure – inflation, unemployment and growth – the British economy is proving more resilient than the EU’s, demonstrating yet again that a nimble, independent UK is better placed to address global challenges than the lumbering EU brontosaurus.”
2. Inflation is worse in the Eurozone than in Brexit Britain
All readers will ever see on the BBC are gloomy reports each time inflation figures are released. What they fail to tell their viewers is that the situation is worse in the Eurozone than in the United Kingdom.
Below we show the latest annual inflation rates for the UK and for the Eurozone in September 2022. We have used the preferred measure for inflation used by both the Office for National Statistics (ONS) and by Eurostat (the EU’s equivalent of the ONS). It is known as CPIH and is deemed to be the most accurate measure of consumer price inflation.
Summary
Annual Consumer Price Inflation, Sept 2022 – the UK compared with the Eurozone
- UK : 8.8%
- Eurozone : 9.9%
[Sources: Office of National Statistics | Eurostat ]
© Brexit Facts4EU.Org 2022 – click to enlarge
3. Economic Growth – faster in Brexit Britain
Finally, economic growth is faster in the UK than in the Eurozone or EU27. According to the IMF, Brexit Britain had the fastest growing economy in the G7 last year (2021). Not only that, but the IMF forecast Brexit Britain will retain is No.1 position this year too.
Also commenting on our report, former Secretary of State and former Single Market Minister, the Rt Hon Sir John Redwood MP told us:
“The Eurozone is stranded with low growth, high inflation, high unemployment and rows over who should pay all the bills.
Out of the EU the UK is free to do better with policies that suit our needs. We no longer have to pay to subsidise the failed EU model.”
Summary
Economic Growth – the UK compared with the Eurozone
2021 – Actual figures
- United Kingdom : 7.4%
- Eurozone : 5.2%
2022 – IMF’s forecast for this year
- United Kingdom : 3.6%
- Eurozone : 3.1%
[Source : International Monetary Fund.]
© Brexit Facts4EU.Org 2022 – click to enlarge
Conclusions
On three key measures – jobs, prices, and economic growth, Brexit Britain is continuing to do better than the Eurozone – and the rest of the EU, come to that.
We published this summary report not to gloat, but to counter all the negativism coming out of No.10 and No.11 Downing Street, all of which is lapped up by the BBC and by Rejoiner organisations.
For the original version of this article, click here: https://facts4eu.org/news/2022_nov_reasons_to_be_cheerful
