UK CPTPP Membership Fails to Match EU Membership Gains
The UK's recent membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has been touted as a significant economic achievement. The agreement is expected to bring around £2 billion annually to the UK economy in the long run, according to the UK government.
However, campaigners from Best for Britain argue that this figure pales in comparison to the benefits of UK membership in the European Union (EU). Independent modelling by Frontier Economics found that the UK could gain at least £92 billion through EU membership.
Naomi Smith, Chief Executive of Best for Britain, pointed out that Canada has recognized the strategic value of being close to the EU, whereas the UK is downplaying its potential losses. She emphasized that the CPTPP deal's benefits appear negligible in comparison to what could be gained from EU membership.