NICK CLEGG had more bad news last week as the truth about the “benefits” of being in the EU are exposed by a cross-party think tank, the Institute for the Study of Civil Society – Civitas.

In its EU Effect report, Civitas exposes that many of the myths about the benefits of being part of the single market do not stack up.

This is politically awkward for Mr Clegg and the Liberal Democrats, who have staked their political reputation on campaigning to stay in the European Union (EU) due to its economic benefits. The Lib Dem leader has previously described the prospect of leaving the EU as “economic suicide”.

The only suicide seems to have been that of the Lib Dems as they have ceased to be the third party of British politics.

The EU Effect found that, overall, there is no evidence to suggest the market encourages investment and many non-members have a better track record of attracting overseas cash.

In fact, Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Netherlands, Spain, Portugal – and the UK – received the equivalent of £9,300 of Foreign Direct Investment per person over its first 19 years, while independent European countries Norway, Iceland and Switzerland received £16,460 per person.

The report also dismisses suggestions made by pro-Euro politicians when the single currency was being set up that remaining outside would hit investment.

Therefore the basis of much of the so-called “facts about leaving the EU”, as doled out by the pro-EU groups are not based on facts at all and are cynically used to spread fear about job security among the electorate for political gain.

Chris Gallacher, Chairman, Ukip Redcar and Cleveland.