Europe in or out arm wrestle

The Summary

 

Over the last few months this series has aimed to explore and discuss various issues surrounding the upcoming referendum. While trying to remain impartial the focus has been mostly on the effects to various industries and the positive and negative outcomes which could come from both remaining in the European Union and leaving the European Union.  This final installment focuses on the overall pros and cons of a possible British exit, ending with a brief summary.

 

Run while you can! ( The pros)

  • The European Union has reached a huge scale with more and more countries joining during its duration. In the event of a British exit, focus would be solely upon the UK.
  • New trade agreements. Were Britain to leave the EU, it would have a strong possibility of obtaining similar trade agreements to those used by Switzerland and Norway.
  • Cut down on costs. Although there are a lot of financial benefits to being in the EU, upon leaving Britain would not be required to pay as much in costs towards the EU, saving about 7% of the NHS budget yearly.
  • Self-investment. In the case of leaving the European Union, Britain would have no choice but to dramatically improve and invest in its own manufacturing and exports, ultimately aiming to become self-sufficient.

 

Won’t you stay another daaaaayyy? (The cons)

  • Financial sectors would be hit hard. In the event of an exit, the UK financial sector would take a massive beating and would probably end up losing its position as one of the best financial sectors in the world.
  • Nothing is set in stone. If Britain were to leave the EU, there is no prediction that is 100% accurate. The possibility of a positive or negative outcome relies on both internal and external factors such as other countries, trade agreements and international law.
  • Bigger together. Not only is the EU the biggest free trade market made up of over 500 million people but it also gaining a bigger role in global diplomacy, something which will always be beneficial for Britain in terms of negotiation.
  • The appearance of isolating ourselves may leave a sour taste in the mouth of other countries making it harder for future trade.
  • Although Britain can replicate similar trade agreements used by other countries this would take years to come in to effect and could ultimately damage British industries for the foreseeable future.

As you can see from the positives and negatives listed above, there are many arguments for and against leaving the European Union. We could sit here all day listing them but ultimately the decision isn’t made by lists it’s made by people, in this case the British people! Regardless of the outcome the British freight industry will find a way to continuously improve and help Britain for many years to come, through the good and the bad. We hope you have enjoyed this series and it has helped provide you with an impartial and balanced view on the referendum. As always we love to hear you opinions so please feel free to comment below.

 

Tony & The Espace Team

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