The letter ‘Threat to EU money tree’ (Letters, October 19) provides a one-sided, simplistic response to a very complex issue.

It is true that the UK is one of the largest contributors to the EU budget, a net sum of about nine billion pounds a year. However, there is no mention of the financial benefits the UK receives from this contribution.

Currently, finance companies based in London are moving part of their operations to EU countries - this will accelerate in the first few months of 2018. These companies cannot afford to wait for hesitant Brexit negotiations any longer before putting their business protection plans into operation.

75,000 well-paid jobs and ten billion pounds of taxes will be lost from just one sector of the UK economy. These annual losses, greater than the cost of our EU membership, are just from one industry!

P. J. Wilson also says: ‘Countries will need to be efficient and stand on their own two feet, trading with the world in a fair and open manner.’ Well, after Brexit we will be on our own, but as to fair and open trading?

The USA is seen by some as our ‘special relationship.’ However, Trump's ‘Make America Great again’ philosophy recently led to an imposition of 300 per cent tariffs on the Bombardier C series aeroplane, risking 1,000 jobs in Northern Ireland.

The only potential saviour of these UK high tech jobs is not the UK government but the European owned Airbus, the only ones capable of taking on Boeing of the USA in a sector trade war. China is said to like Win-Win trading relationships where they win twice!

In international trade, power talks and after Brexit the UK will have less of it. We don’t actually have an Empire anymore and the much vaunted (by Brexiteers) trade with the 53 countries of the Commonwealth only make up eight per cent of our trade, less than Germany on its own. Incidentally, German companies currently employ 400,000 workers in the UK.

So, come on Brexiteers, please stop making vague and emotional statements, lets have some facts and evidence for the benefits of taking us out of the largest trading block on Earth. In reality the 27 countries of the EU don’t need us more than we need them.

John Wright