UK's economy is chained to the slowcoach of the world economy

Budget papers reveal the difference between Britain's real and forecast net contribution to the European Union from 2010/11 to 2013/14 increased from £31.3billion at the Autumn statement to £33.1billion at the Budget.

The figures not only show that the Treasury got their estimates wrong, but also that the UK is paying more to the EU than ever before.

Forecasts also released by the Office for Budget Responsibility, the Government's fiscal watchdog, reveal that in 2012 the Eurozone will have a recession, while in every one of the next four years it will deliver output growth at less than half the rate of the world as a whole.

These figures show that by being a member of the EU, the UK's economy is chained to the slowcoach of the world economy.