In his City A.M.'s Opinion, Bill Cash wrote "SELF-DELUSION seems to be spreading. First the CityUK’s Chris Cummings, in an article in last Tuesday’s City A.M., appeals for the City of London to lead EU reform. Next, Labour’s Douglas Alexander takes up the call in Monday’s Evening Standard. “It has”, he informs us, “been Britain’s stated policy objective for the past 30 years to heavily influence decisions on EU financial regulation.”
Right. Good. So why has Europe Economics, in a report for Business for Britain, found that the UK would not have introduced half of all major EU financial laws if we had been outside the European Union? Why has one UK government legal challenge to these laws after another been rejected by the European Court of Justice? Why has the EU introduced 4,751 laws that affect British businesses since 2010, when even Peter Mandelson, former EU trade commissioner, admitted in 2004 that regulation cost 4 per cent of EU GDP?" Please read the article here.