Question

Based researching Brexit – (1) summarize the major concerns that lead the U.K. to decide to leave the E.U. Then, (2) make an argument for why leaving the E.U. might help or hurt the economy of the U.K.

Answer 1

A. 1) Brexit was a decision taken by the British people while considering several points which can be summarized in the following paragraphs.

First of all it was the economic consideration of supporting the EU where Britain was shelving out more money than it received back as expenses. The country was overall facing negative outflow in the name of expenditure. There was no point in giving more money in expenses to the union. Secondly thing was the rules and regulations made by the union which were not at all acceptable due to their absurdity. These rules were simply against the overall norms prevalent in England like power of vacuum cleaners, design of certain vehicle parts, etc. It was difficult to follow such rules being made up by the union.

Third we see that it was very difficult to remain in the union due to it being anti-democratic. The union was under pressure from firms, organized crime and other factors which are blocking it from taking effective decisions. Next there was the problem of common currency namely EURO which Britain didn’t adopted. However it seems that it benefitted from the same by coming out easily from the depression. Yet another factor responsible for brexit was immigration from Europe into Britain due to open borders. The immigrants were seen both as competitors for jobs in the country and a security threat as well. So these were some of the reasons which prompted brexit.

A. 2) Leaving the EU will be beneficial for the British economy in many ways. On the economic front the country has upper hand when it comes to exports since it exports around half of them to the EU members. Reduction in payment for union expenses will also save money for the country. Less number of migrants means more opportunities for local population. Taking decisions in the national interest and sovereignty of the country will now become easier for the English people. Overall the economy will benefit on many fronts by the decision to exit EU.