Ulster Unionist MEP Jim Nicholson has welcomed the publication of research by the CBI which identifies the benefits and costs of the UK’s membership of the EU for business and the economy as an important contribution to the debate on EU membership. 

Mr Nicholson said: 

“I welcome the fact that the CBI has identified the benefits and costs of EU membership and made a strong case for reform as I believe we must seek reform and fully engage in the debate about our relationship with the EU. This debate must weigh up all the positives and negatives of remaining a member. There is too much at stake for simple kneejerk reactions. The debate, leading to a referendum must be centred on facts – not fiction and I welcome the CBI’s most recent contribution. 

“The CBI’s research indicates that membership is worth some 4-5% of the UK’s annual GDP, highlighting the benefits for business of the EU’s Single Market and those which flow from numerous trade agreements. One such example is the EU-US free trade agreement. These talks recently commenced and they represent significant opportunities and challenges for both economies and for us locally. Northern Ireland will be represented in this process as I will lead the response of the European Parliament’s Agriculture Committee throughout these crucial negotiations. 

“The report also outlines the costs associated with membership, not least the tendency for the European Commission to legislate for everything. As an MEP I regularly witness this approach first-hand and I therefore fight to reduce the regulatory burden on businesses and households at every opportunity. 

“The CBI’s research regarding the implications for the UK’s economy of EU membership is an important contribution to the on-going debate surrounding this crucial issue.”