Tory and Labour MPs believe that if the eurozone moves towards a single tax system – as chancellor George Osborne advocated again – then the EU will become a fundamentally different organisation to the one the UK joined in 1973. Many also fear that Britain will come under intense pressure to adapt its tax and regulatory policies to conform more closely with the eurozone once fiscal union is under way, even if the UK remains out of the single currency.
Steve Baker, the Tory MP for Wycombe and a member of the fiercely eurosceptic 2010 Conservative intake, said: “It is very clear that the EU is heading at full speed towards being one country. As that is the case there is absolutely no doubt that the British people should be offered a vote on whether to be a part of that.”
I see no reason why fiscal planning at the EU level should be any more successful or acceptable to the European people than the arrangements which have failed. It would be better to abandon the Euro in favour of new monetary arrangements — such as competing currencies, proposed by the Treasury in November 1989 — and abolish the EU in favour of ultra-minimal arrangements under the Council of Europe to guarantee free trade and peace.
In the meantime, my People’s Pledge page is here.