The Pros And Cons Of Brexit

With diminishing control of what happens in Britain, the British people decided it was best to vacate the union. The British were dealing with the laws given by the European members who were not living and experiencing the country themselves. To provide an example of a ghastly law given to the British people, they, as part of the European Union, were only allowed to catch 20% of the fish swimming in British territorial waters. What this meant was that tens of thousands of jobs were lost and they were not able to use one of the most significant resources given to them, as Britain is surrounded by ocean. Nigel Farage, Leader of the UK Independence Party, says that his fellow Englishmen, “effectively gave away the ability to look after one of our greatest resources to a bureaucracy based in Brussels.” Because of the way the government was set up, “Not only could the voters not change anything, but the institutes themselves are incapable of reform.” With an already maimed government, the European Union was creating more problems than it was solving. The British people had enough of giving up their rights as British citizens so the European Commission could tell them how to live. Therefore, with problems like those arising from the Union and with no hope to resolve them, Britain filed for secession and pulled out of the union

The aftermath of World War II ushered in an era of unprecedented political change. The allies had won the war and upheld democracy against a fascist regime. During the war, the economy experienced exponential growth. With victory came the hope and a vision of prosperity for all. As Britain transitioned from a war time economy to a peaceful one, many were adamant in leaving

The United Kingdom initially joined the European Union in 1973 for economic reasons hoping to promote trade and form relationships with other states in the Union. In 1975 the UK held its first national referendum on withdrawal from the European Economic Community. According to the poll,” 67 % of Britons voted to stay in the EEC and 32 % voted to leave the union” (GYE). Because of this result the UK stayed in the EU in 1975. Over the past 40 years the European Union has been through a lot of change, many more countries have joined the organization and the EU has extended its control over more aspects of daily lives. These changes have sparked a lot of controversy coming from both the UK public and

This report will look at the benefits and issues surrounding the UKs decision to remain as a member state of the European Union (E.U.). Along with the newly elected conservative government, came the announcement that a nationwide referendum would be held, by the end of 2017, in order to determine the British public’s stance on the issue of EU membership.

The UK will benefit the most from leaving the EU, as they will be able to rebuild their economy instead of being apart of the EU, which they’re wanted to leave since they’ve signed the treaty. Instead of being taken advantaged of, they will begin to keep their money that would’ve been spent on their membership. Its citizens hope that this extra money will be given back to them to help with unemployment and other services that they

The first reason why Britain shouldn't leave the EU is because it would hurt trade. A major benefit of the EU is the trade. Combined, all the countries in the EU have a large influence over world trade. This allows them to get more money for other EU countries.

So after the result of the referendum had been out, the first affect is the pound had fallen sharply, according to (Taub,A. 2016.) the pound is at its lowest valuation in seven years. Due to the (Hunt,A. & Wheeler,B. 2016) uncertainty rushing around, a British exit will likely result in a massive rebalancing of currencies. Investors will (and have already begun to) dive out of the British pound and into cash that's perceived as safe — the Swiss franc, the Japanese yen, the U.S. dollar. The changing direction of the investor and the fallen of the pound has spiked the value of Yen which has made Japan’s export being less competitive. Even the fallen of the pound can help the export business and attract more tourism to the country ,which due to the (bbc no name) The travel analytics firm ForwardKeys says flight bookings to the UK rose 7.1% after the vote. The import business still have to pay more for the fuel and material due to the costs which have increased 7.6%. Moreover, since 51% of goods and 45% of services of the British’s export are taken over by the EU. Losing access to the EU single market would mean less trade and less productivity growth which could (Chu,B.2016.)make

There are various factors behind the possible leaving the EU. There is a growing concern among the Brexit when EU exists as a superpower and the status of Britain is threatened. Questions also arise as what benefit Britain

They impose too many rules on business and charge billion’s a year in membership fees for little in return. Britain also stated that another reason they want to leave is because of sovereignty and democracy. Britain wants the UK to take back full control of its borders and reduce the number of people coming to work and live there. In other words, they want immigration control. One of the main principles of EU membership is free movement. This means that you don’t need to get a visa to live in another EU country.

On the other hand, the pro-EU party hold opposite opinions relative to Eurosceptics party. On the political front, the European Union is based on the law. Briton protected by the EU employment laws and social protection. Once UK secede from the EU means that Briton no longer protected by the European Union law (BBC, 2015). Then, EU is an important trading partner to Britain, seceding from EU, Britain have to face trade barrier, which means UK have to pay the tariffs when import and export (BBC, 2015). Furthermore, with the international manufacturers transfer to the low-cost countries inside the EU, UK would lose a large number of employment opportunities.

I reached this conclusion, as it is evident that there are many downsides to the leaving EU, such as political problems, and possible destabilization of certain countries. Also, the idea that the removal of the UK from Europe could cause another Scotland Referendum, which, if successful, may be the final straw, that collapses the British empire.

“Whatever happens, Britain will surely require vast new numbers of bureaucrats, people to work on the new arrangements and people to enforce them. It will almost certainly turn out that Britain saved money by being part of Europe, because economies of scale made regulation much cheaper. It will almost certainly turn out that Britain was more powerful — with more sovereignty — when it was part of a large organization with international clout. Many of the other parties to those 759 deals will seek to take advantage of an isolated country with far fewer allies. British consumers, workers and entrepreneurs will pay the

Literature review: In September 2017 Thomas Sampson from The London School of Economics and Political Science wrote a Literature on Brexit. The title of the literature was Brexit: The Economics of International Disintegration. In this literature review I will briefly summarise the literature wrote by Thomas Sampson.

Britain withdrawing the European Union has always been an ongoing discussion, one of the many goals pursued by some British political parties, along with groups of people and individuals. Leaving the European Union is a right that every country that is part of the Treaty on the European Union has (Article 50 of the treaty), and this is what the Conservative political parties that proposed the referendum are triggering to impulse a faster withdraw from the EU; specially the new prime minister Theresa May. There had been another referendum in 1975, but it resulted in

We will be undertaking a fundamental research, as the aim of our study is not to provide a solution to a problem, but rather understand the consequences a particular political event (Brexit) has had on an economic indicator (trade flow). Certainly, some practical usefulness might be derived from the research (for example, it might prove useful for future hedging strategies in similar situations), but that is not the main objective. Consequently, we expect to create Mode 1 knowledge, in which a “fundamental rather than applied nature” (Sander et al. 2016) is emphasised.