Boris Johnson set to endorse report backing Britain's exit from EU

Report by chief economic adviser Gerard Lyons says EU exit could be best option for London

Leaving the European Union would be better for London than staying in it without reform, a report commissioned by Mayor of London Boris Johnson has concluded.

Mr Johnson is expected to give his backing to the study, carried out by his chief economic advisor Gerard Lyons, in a speech on Wednesday.

Speaking to the Sunday Telegraph, Mr Lyons said exiting the EU was a “viable option” for Britain and warned “meaningful” reform could only be achieved if the UK was “serious about leaving”.

He said: “The best economic scenario for Britain over the next 20 years is to be in a significantly reformed European Union.

"But if, as an alternative, the UK leaves the EU on good terms, while adopting sensible outward-looking trading policies, that comes a very close second.“

Boris Johnson's backing of the report is likely to place more pressure on the Prime Minister to show willing to leave the EU if negotiations fail to achieve reform Boris Johnson's backing of the report is likely to place more pressure on the Prime Minister to show willing to leave the EU if negotiations fail to achieve reform
According to the Telegraph, the Lyons report predicts London’s GDP of £350 billion will grow to £640 billion by 2034 if EU reforms boost trade with growing markets in the rest of the world.

But, growth up to £614 billion would still be achieved by the capital if Britain quit the EU to pursue its own outward-looking trade policies, the report concluded.

Staying in an unreformed EU would see London’s GDP grow to just £495 billion over the same 20 year period, while leaving the EU but failing to adopt trade-friendly policies would limit growth to just £430 billion.

The report lays out a list of eight demands for reform, which go beyond what Prime Minister David Cameron has publicly set out.

Read more
Boris Johnson's war on diesel
Tougher benefits rules for EU migrants: New arrivals will lose payments after just three months
David Cameron hints at plans to raise the 40p tax threshold

The Sunday Times quoted an unnamed source close to the Mayor as saying Mr Johnson “favours a renegotiation” in which Britain stays in the common market.

Mr Cameron, who has promised an in/out referendum on Britain’s EU membership in 2017, has said he hopes to be able to recommend voters opt to stay in the EU following planned renegotiations.

It is expected the mayor’s comments will increase pressure on the Prime Minister to indicate his readiness to exit the union if renegotiations fail to deliver reform.

Additional reporting by Press Association.

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksA special investigation by Andy McSmith
News
people
News
A boy holds a chick during the Russian National Agricultural Exhibition Golden Autumn 2014 in Moscow on October 9, 2014.
news
Life and Style
love + sex
Sport
Ashley Young celebrates the winner for Manchester United against Newcastle
footballNewcastle v United 1 player ratings
Arts and Entertainment
Victoria Wood, Kayvan Novak, Alexa Chung, Chris Moyles
tvReview: No soggy bottoms, but plenty of other baking disasters on The Great Comic Relief Bake Off
Sport
Ashley Young celebrates the winner for Manchester United against Newcastle
footballNewcastle 0 Man United 1: Last minute strike seals precious victory
Life and Style
Tikka Masala has been overtaken by Jalfrezi as the nation's most popular curry
food + drink
Arts and Entertainment
Seth Rogan is one of America’s most famous pot smokers
filmAmy Pascal resigned after her personal emails were leaked following a cyber-attack sparked by the actor's film The Interview
News
Benjamin Netanyahu and his cartoon bomb – the Israeli PM shows his ‘evidence’
people
Arts and Entertainment
80s trailblazer: comedian Tracey Ullman
tv
News
i100
2015 General Election
May2015

Poll of Polls

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Ashdown Group: C#.Net Developer - C#, ASP.Net, PHP, HTML, JavaScript, CSS

£30000 - £35000 per annum: Ashdown Group: C#.Net Developer - C#, ASP.Net, HTML...

Recruitment Genius: 2nd / 3rd Line IT Support Engineer - Managed Services Provider

£30000 - £37000 per annum: Recruitment Genius: A 2nd / 3rd Line IT Support Eng...

Recruitment Genius: UI / UX Designer

£25000 - £35000 per annum: Recruitment Genius: This firm are focussed on assis...

Recruitment Genius: General Processor

£7 per hour: Recruitment Genius: A vacancy has arisen for a General Processor ...

Day In a Page

War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable
Living with Alzheimer's: What is it really like to be diagnosed with early-onset dementia?

What is it like to live with Alzheimer's?

Depicting early-onset Alzheimer's, the film 'Still Alice' had a profound effect on Joy Watson, who lives with the illness. She tells Kate Hilpern how she's coped with the diagnosis
The Internet of Things: Meet the British salesman who gave real-world items a virtual life

Setting in motion the Internet of Things

British salesman Kevin Ashton gave real-world items a virtual life
Election 2015: Latest polling reveals Tories and Labour on course to win the same number of seats - with the SNP holding the balance of power

Election 2015: A dead heat between Mr Bean and Dick Dastardly!

Lord Ashcroft reveals latest polling – and which character voters associate with each leader
Audiences queue up for 'true stories told live' as cult competition The Moth goes global

Cult competition The Moth goes global

The non-profit 'slam storytelling' competition was founded in 1997 by the novelist George Dawes Green and has seen Malcolm Gladwell, Salman Rushdie and Molly Ringwald all take their turn at the mic
Pakistani women come out fighting: A hard-hitting play focuses on female Muslim boxers

Pakistani women come out fighting

Hard-hitting new play 'No Guts, No Heart, No Glory' focuses on female Muslim boxers
Leonora Carrington transcended her stolid background to become an avant garde star

Surreal deal: Leonora Carrington

The artist transcended her stolid background to become an avant garde star
LGBT History Month: Pupils discuss topics from Sappho to same-sex marriage

Education: LGBT History Month

Pupils have been discussing topics from Sappho to same-sex marriage
11 best gel eyeliners

Go bold this season: 11 best gel eyeliners

Use an ink pot eyeliner to go bold on the eyes with this season's feline flicked winged liner
Cricket World Cup 2015: Tournament runs riot to make the event more hit than miss...

Cricket World Cup runs riot to make the event more hit than miss...

The tournament has reached its halfway mark and scores of 300 and amazing catches abound. One thing never changes, though – everyone loves beating England
Katarina Johnson-Thompson: Heptathlete ready to jump at first major title

Katarina Johnson-Thompson: Ready to jump at first major title

After her 2014 was ruined by injury, 21-year-old Briton is leading pentathlete going into this week’s European Indoors. Now she intends to turn form into gold
Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot