But protectionism already exists between EU and Non EU nations, so it would therefore apply to the UK if we pulled out.
And there's still the issue of the plumbers of course.
A number of the investment banks would relocate. The benefits of being located in the EU for EU orientated M&A deals, especially if having to be ratified by Brussels for anti monopoly legislation would be a big incentive.
Switzerland has an advantage of exporting services that are in demand, and therefore does not suffer significantly from being outside the EU.
As much as people may dislike the City of London, it is a massive contributor to the Treasury, and a large part of it would relocate to Frankfurt if we...
The payments are mainly for the CAP and regeneration projects elsewhere in the EU.
I (and you) can (and do) work anywhere in the EU without needing a visa, which benefits me personally, and the UK as a whole as I pay taxes on these earnings. I have little time for the bureaucrats in Brussels...
The trade benefits and jobs that are created as a result far outweigh the contribution made by the Exchequer.
The CAP is a cheats charter, and won't be solved as there are too many vested interests (including many wealthy landowners here in the UK), but overall it has done more good than harm.