The Impact of EEC Membership upon UK Industrial Performance

Tür:

Kitap Bölümü

Yazar:

Robert Grant

Yayın yılı:

1983

Yayıncı:

Palgrave Macmillan UK

Dil:

en

During the years immediately prior to Britain's accession to the European Community, considerable attention was devoted to the likely effects of membership upon the British economy. Despite the controversy generated in the debate over membership, a substantial degree of consensus emerged as to the probable economic impact. It was clear, for example, that budgetary contributions and higher food prices would involve a substantial outflow on the balance of payments and would boost the rate of inflation during the transition period. The impact on the industrial sector was less clear-cut. It was generally considered that the effect of the elimination of tariffs between Britain and the EEC combined with a loss of Commonwealth, EFTA and Irish preferences would result initially in an adverse movement in the balance of trade in manufactures. The 1970 White Paper, Britain and the European Communities, An Economic Assessment, estimated an adverse movement in the non-food trade balance of between £125 million and £275 million With higher import prices for food and the large net budget contributions, an adverse movement in the balance of payments of up to £1000 million was foreseen.KeywordsDirect InvestmentTrade PerformanceTrade BalanceStructural AdjustmentTariff RateThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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