b'1. The costs of the EU From the UKs viewpoint, the key point about he costs of the EU are often justified T on the basis of a Single Market.the Single Market is this: although 100% of the However, services (on the whole) areUK economythe entire activity of the UK not included in the Single Market; it seemseconomyis subject to EU regulation.In legitimate therefore to ask the basis upon2019 only 13.4% of the UKs economy was which the advantages of the Single Marketaccounted for by exports of goods and can possibly be deemed to outweigh theservices to the EU. And, that percentage is disadvantages of EU membership: loss ofdeclining. Where do these figures come from? sovereignty, open borders, the direct andThe following table sets out some recent indirect costs of membership in the EU (thesehistory.are covered in the next chapter) and the rest. Table 46 TheUK economyTotal UK exports in 2017615.9 billionUK GDP in 20142.5 trillionValue of UKs exports of goods and services274.0 billion to other EU countries in 2014UKs exports in goods and services to other44.50% EU countries in 2017 (percentage of total)Percentage of the UKs economy accounted for7.98% by exports to the EUSource: CIA World Factbook and ONS Trade StatisticsWhy is the percentage, at less than 7.98%,UK firms do not sell to the EU at all but in so low? Simply put, the figure excludes thepursuance of the Single Market are subject entire UK Retail and Hospitality Sectors.to the full weight and costs of EU regulation.1 Both sectors earn substantial and material foreign currency for the UK, including fromThis is a key fact, and a key finding. Europeans, but they do not directly export.Regrettably, most politicians and even Nonetheless, they are still subject to thecommentators are either unaware of this or whole weight of EU regulation, which in thechoose to ignore it. Sadly, it is not possible to UK, (unlike some other member states),have a serious or productive dialogue on the is rigorously adhered to and enforced. ToEU and Brexit unless and until this basic fact is put these facts in a different way, 95% ofaccepted.107'