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The United Kingdom joined the European Economic Community on 1 January 1973, and one of the main benefits derived was access to a tariff‐free market of 270 million people. Politicians had been urging British companies to export more ever since the end of the Second World War. The post‐war period had seen trade with what could be called the ‘Old Empire’ in decline, while trade with the EEC had grown considerably. Many politicians no doubt believed that British companies would be encouraged to export more if the UK became a member of the EEC, for in effect the home market was being expanded almost five‐fold from approximately 56 million. This market would be larger than the United States with 230 million people, or Japan with 117 million.

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