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Impact of European Union Policies on Uk Businesses

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Impact of European Union policies on UK businesses Case scenario – if the UK is pulling out from the EU club Legislation - A vast majority of UK law is derived from the EU, estimated at 80% of law currently in force in the UK. As such, withdrawal from the EU will have a huge effect on legislation applied in the UK. - The Treaties (the TEU and the TFEU) would cease to apply, including as part of those, the fundamental freedoms (free movement of goods, services, capital and persons/workers) meaning that the protection of UK citizens either living in or intending to move to an EU Member State will disappear. UK nationals will require visas just to visit any MS and stringent requirements will apply to workers visas. Such …show more content…

if they had acquired permanent residence under the Citizens Directive (2004/38/EC). - Were the right of free movement to fall away completely, the UK would be free to impose its own domestic immigration law on citizens of other EU states (assuming that the UK Regulations which give effect to the relevant Directive are revoked), and vice versa. - The UK's restricted ability to limit the inward migration of persons from other EU states has become controversial in some quarters, particularly since the accession to the EU of two tranches of east European countries in 2004 and 2007. - However, the ‘worst case scenario' consequences of the UK pulling-out could include the repatriation of thousands of UK citizens if they did not meet immigration requirements of the EU state in which they are currently living, and potentially the requirement for UK nationals to obtain a visa when going on holiday to other EU states. The effects on UK business would be significant, both on their ability to do business in and transfer people to other EU states, but also in relation to their own workforce, particularly given the current limits on non-EU economic migration. Financial accounts between the UK and the EU - The Structural and Cohesion Funds are the EU's main financial instruments for supporting social and economic restructuring across the EU. They account for over one third

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