Member Article

Swivel-eyed loons? Cash offered for EU exit plans

A €100k prize is being offered for the best 2,000 word blueprint on a UK exit of the European Union.

Right-wing think tank, the Institute of Economic Affairs (IEA), are asking entrants to imagine a referendum has resulted in an overall “out” vote.

Cash prizes will be awarded to the first, second and third best plans for how the UK would execute an exit and how it would fit into the ensuing economic landscape.

The IEA has assembled a cast of stellar eurosceptic judges including former Chancellor Lord Lawson, historian David Starkey and Gisela Stewart, MP for Birmingham Edgbaston.

Lord Lawson said: “I welcome the IEA’s initiative in holding this competition. Now that we have been promised an in-out referendum on Britain and the EU in 2017, it is essential that this momentous decision is preceded by a well-informed debate. The winning entries in this competition will be an important contribution to that process.

“To date much of this debate has generated more heat than light. It is crucial that we should look into the policy framework that would be needed if Britain decides to leave the EU.

“The creation of the Eurozone, of which the UK is (quite rightly) not a member, has fundamentally changed both the nature of the European Union and the case for the UK remaining a member of it.”

The IEA say submissions are welcome from individuals, groups of individuals, academia and corporate bodies such as consultancy firms, law firms, accounting firms, think-tanks and investment banks.

Entrants will have to set out the legal process for exit, including changes to UK law that are necessary as well as negotiation of the UK’s relationship with the remaining EU.

Exit mongers should detail how regulation should be approached across areas such as employment, the environment and banking.

Mark Littlewood, director general at the Institute of Economic Affairs, said: “It is time for the EU debate to be dominated by serious thought rather than bluster. There is an urgent need to consider the alternatives for Britain’s economic and constitutional position if we were to choose to leave the EU.

“Exit from the European Union now has to be considered to be a serious possibility. The task of mapping out a successful future on the outside requires serious thought and requires it now.”

Ten of the best submissions will be invited by the judging panel to make a further 10,000-20,000 word entry within four months

For more information on making a submission visit the IEA’s site here.

This was posted in Bdaily's Members' News section by Tom Keighley .