Yes I am sure there are risks - we take the risk of getting run over by a bus every time we travel anywhere. Osborne keeps ranting on about the risks and we will be poorer for ever - as I would ever trust anything he has to say. He has proved to be an inept chancellor so he is not in a position to foresee the future - he hasn't been able to do that before - all his forecasts have been wrong. Obama should also keep his trap shut - he is just concerned about any detrimental affect on th US and of getting TTIP rejected [hope so!]
All this negative publicity about leaving the EU seems to be have the very opposite effect from what the government wanted, and hopefully it will continue to do so!
Actually Peter we contribute a gross figure of £18.2 billion p.a. (£50,000,000 a day)
The rebate is calculated as approximately two-thirds of the amount by which UK payments into the EU exceed all EU expenditure
returning to the UK.
Currently the rebate is worth € 6 billion a year.
The rebate distorts UK funding negotiations with the EU.
Normally, countries and independent agencies within each country bid to receive central EU funds for various uses.
The UK government is aware that two-thirds of any EU funding will in effect be deducted from the rebate
and come out of UK government funds.
Thus the UK rebate only has an effective value of 33% of it's nominal power thus reducing the incentive for the UK Government to apply for EU funds.
Other countries, whose contributions into the budget are not affected by funds they receive back, have no incentive to moderate their requests for funds, hardly a level playing field.
In addition, many EU grants are conditional on the recipient nation finding a proportion of funding from local sources, frequently national or local government.
This increases the proportion coming from UK government revenue even further.
This has the effect of artificially reducing EU expenditure returning to the UK and worsening the UK fical deficit which the rebate is intended to redress.Give with the left hand and take back more with the right hand.
Peter is absolutely correct, their is no such thing as free trade, the imposition of trade tariffs after Brexit may actually be less than the cost of free trade.
As you have read, I agree entirely - we have all suffered from their failed attempts at sorting out the economy and have failed miserably. I just hope that the electorate realise that their pathetic and untested predictions about a post EU economy are simply not testable and Osborne continually fails to meet his own predictions. It has been proved again today, he has had to borrow far more than he predicted again! He really is useless!