Branson Reflects on Europe – In an interview with Andrew Marr on Sunday, Sir Richard Branson, entrepreneur and founder of The Virgin Group reflected on what business outside Europe was like when he started his first record company 50 years ago. he said “If I wanted to export my music into Europe I paid 35% tax, if I wanted to import music from Europe I paid 35% tax, if I wanted to set up an office in Europe, it was extremely difficult” he went on to say “there wasn’t this wonderful situation there is today where there is this enormous trading block, you can treat it just as if it is the UK and you can trade anywhere in Europe.”
Many, however, would argue, as Andrew Marr pointed out, that with a European trading deficit of £48b and the entrance fee of £12b this is a price too high. Branson argued that a lot of this money was used to benefit the countries within the EU and only a proportion was used to fund the EU overhead. He suggested the EU management team was no bigger than an equivalent team that might run a city like Birmingham.
Branson’s main thrust was that being in Europe gives us the scale to be a major world player. It enables us to negotiate better trade deals and be a voice that is heard in a global market. If we isolate ourselves by returning to being simply Great Britain, we would have to follow rather than lead.
Branson wouldn’t be draw on the question of immigration, he recognised that there may be things that needed to be done, but he thought there was a bigger picture that needed to be understood. He pointed out that we are the first generation to have not suffered through a war in Europe and that our freedoms have enabled us to become more integrated through friendships and marriage.
When questioned by Marr as to whether or not Branson would use his position to ‘sell’ participation in Europe, he responded by saying he doubted he would take a lead role. He has avoided politics for the whole of his working career and so is unlikely to get on a soap box for any political party. Having said that, Branson is proud of being a European and happy to state why if asked.
