The arguments for and against Brexit

British citizens will vote on June 23 to decide whether the UK should stay a member of the European Union. Let’s examine some of the arguments made by both “Stay in Europe” and “Leave Europe” campaigns.

Arguments for Staying in European Union (EU)

  -- Nearly 3 million UK jobs linked to trade with the EU – staying in EU means preserving jobs.

  -- 200,000 or more UK businesses trade with the EU.

  -- The UK gets 66 million pounds of investment a day from EU countries.

  -- An organization called as Open Europe (https://openeurope.org.uk/) predicts that 8 industries in goods and services sector – Automobiles, Chemicals, Aerospace, Machinery, Food, Beverage and Tobacco, BFSI and Professional Services – faces medium to high risk of disruption in case Britain votes to leave the EU.

  -- New tariffs and regulations would kick in if the “Leave” vote materializes.

Arguments for Leaving the European Union (EU)

  -- Immigration: UK cannot control immigration from EU countries until it leaves the bloc.

  -- The EU is holding back UK’s focus on emerging markets. Leaving the EU would allow country to negotiate trade deals with different countries.

  -- British companies would be freed from the burden of EU regulation.

  -- There are no real dangers of job losses if Britain opts to leave the EU as the country can establish closer trade links with China and India.

  -- London will continue to remain a major financial center – thanks to lower taxes – even after leaving the EU. There is no real danger of banks shifting base.

Source: BBC, The Telegraph, Britain Stronger In Europe and Open Europe