Introduction January 1st ,1973 is the day the UK became a member of the European Economic Community (EEC), (BBC.com, 1973). Which then at November 1st, 1993 became a pillar of the European Union (EU) as it is known today. The EU intends to achieve economic coordination and benefits among its members by changing regulations and laws concerning employment, EU budget, immigration, education, and culture. And Introducing agreements like free trade. Brexit is the Act of the UK leaving the EU. A referendum, which is a popular vote that aims to resolve a political issue, was made on 26th of June 2016. The UK has voted to leave the EU by 51.9% to 48.1%. This decision can have immense impact on both the UK and EU since many laws and regulations…show more content… IMMIGRATION
Employment statistics from the Labor Force Survey showed there was an increase of 454,000 in the employed UK labor force in July to September 2016, 49% percent of this growth was accounted by EU nationals. 63% of immigrants arriving for work were EU citizens. EU migrants compensate more in taxes than use in NHS and public services. (Wadsworth, Dhingra, Ottaviano, Reenen, 2016) They therefore help reduce the defect of the annual expenditure. Immigrants do not have a negative effect on the levels of crime, education, health, or social housing. Many people are concerned that high levels of immigration may have hurt their jobs, wages and quality of life. A major argument of the Leave campaign is that Brexit would allow more control over the flow of immigrants to the UK from the rest of the EU. Falls in EU immigration are likely to lead to lower living standards for the UK-born.
One of the most crucial and argumentative aspects of the European Union (EU) is its budget.
The UK net contribution is 8.473 Billion which for almost 12.5% of the EU budget. (HM Treasury, 2015) the incoming graph compares all member states contributions. Source: European Commission’s Draft Amending Budget 8 to the 2015 budget
The EU obtains its revenue from four main sources: Traditional own resources, comprising customs duties on imports from outside the EU. VAT-based resources, comprising a percentage (around 0.3%) of each member state 's standardized value added tax