Thursday, June 25, 2015

Trading lies

Now, one could be charitable and say that it's an editing issue. However, I choose to believe that Lucy Thomas is, in fact, telling a deliberate untruth in today's City AM debate. [Emphasis mine—DK]
Nearly half of our trade is with other EU countries, and the “outers” cannot say how British businesses would be affected by any of their scenarios for exit.
No, Lucy: "nearly half of our trade" is not with other EU countries, actually.

At any time, around 80% of "our trade" is internal. Our actual trade with EU countries is, in fact, about 10%—very far from "half" (and it is more like 8% when the Rotterdam effect is taken into account).

This might seem like nit-picking, but Lucy Thomas is the campaign director of pro-EU Business for New Europe organisation: we can expect organisations like this to step up the peddling of these subtle lies as the EU referendum approaches.

We need to be aware of them, call out those asserting them, and debunk them on a regular basis.

6 comments:

Mark Wadsworth said...

Jeez, how many times have we heard this line about "Three million jobs in the UK depend on EU membership"? It's a big lie, but they are sticking to it, some people actually believe it.

Anonymous said...

Actually, nobody knows. What I am prepared to believe is that if 3 million go, then maybe 5 million will rise up to take their place!Q

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Willy said...

Where does BNE get it's funding from? An EU slush fund perhaps?

Using my limited research skills to check their financials (it's Sunday, I'm bored) I find a solid balance sheet but no income statement.

I fear for the out campaign as I suspect the "ins" will have a massive advantage when the EU brings it's considerable resources behind them.

Carnwennan said...

The anti EU factions are a contrary mess, they don't know what to think, let alone say. Any referendum will be won by the BBC unopposed.

Time was when a small gang of opinionated libertarians spread their truth like an antibiotic against the insidious red infection besetting this country.

*Raises a dusty dogeared sharpened cockroach in hope*

Neil Wilson said...

Counter with 'by that logic 4 million jobs are suppressed by membership of the EU, so we'd be up on the deal'.

The EU has nothing to do with trade. It is, always has been and always will be a political question. Does the UK want to be a mere state in a United States of Europe ruled from Brussels. Yes or No.