Should the Uk Leave the Eu?

Should the UK leave the EU?
For - reintroduce full powers to Westminster:
Although the EU has a parliament, a single state's objection to a new piece of legislation would make no difference if the other 26 states were in favour of it. Nation states no longer get a veto when deciding on new legislation. New legislation is put through either by consensus among the members, or by qualified majority voting. Thus countries cannot block legislation they strongly disagree with. Essentially the EU is too great a body to legislate and the power should be handed back to Westminster.
Counterargument:
The EU does not regularly legislate on minor issues that would adversely affect individual nations, but rather issues of common trade or foreign policy. To this end, although it is indeed true that individual member states do not have as great a say and are potentially unable to veto legislation, this should not be a problem. Also, the idea that the EU is too 'large' a body to have a common parliament is untenable when you consider that other large geographical territories with different cultural 'zones' such as Canada, India and Russia have a single federal parliament.
For- The EU is a drain on the British economy:
The EU is arguably a drain on the British economy. A huge amount of money given to the EU is allocated to bureaucracy and wasteful spending such as the Common Agricultural Policy (CAP). In 2006, a whopping 45% EU spending went towards the CAP. To put this in perspective, that's almost half EU spending allocated towards an industry that employs only 5% EU citizens and generates 1.6% GDP. This is truly unnecessary and is unequally distributed, France reportedly benefitting immensely, while countries with very little agricultural sectors seeing few benefits, and yet expected to foot the bill for this wasteful policy.
Counterargument:
More than 80% of the EU budget is spent by the member states. In effect, the EU acts like a central government does,...