British households save £200 per year thanks to European Union free trade agreements, according to a new report out today from the London School of Economics.
The study from the LSE’s Centre for Economic Performance says British families will benefit from more savings from planned EU trade agreements with the US and Japan, worth an additional £238 for each UK household.
The pro-EU campaign group, Britain Stronger in Europe, welcomed the report, but Robert Oxley, a spokesman for the Vote Leave campaign, rejected the figures, saying: “Actual independent research shows that the EU has increased costs for consumers. That’s on top of the £350m we all have to fork out for Brussels each week.”
Britain Stronger In Europe submitted its application today to the Electoral Commission to be the official remain campaign in the run-up to the EU referendum on 23 June. Vote Leave and Grassroots Out (GO) are both seeking official status as the leave campaign.