Euronomics
What if the UK
leaves the EU?
S
ince the re-election of the
Conservative government
there has been a bit of talk
about a referendum regarding
the UK’s membership of the
EU.
The referendum regarding the
UK’s (Including Gibraltar’s)
membership of the EU is
scheduled to be held before
the end of 2017. The last
referendum was in 2012 which
ended up in with a 56%
majority to stay as a member.
What would happen if we were
to leave? If Britain withdrew
from the EU it would probably
preserve the benefits of trade
with the EU by imposing a
UK/EU Free Trade Agreement.
Which would put to rest the
fears of many people that
imported goods would hugely
rise in price. But as we import
more form them than we
export
to
them it
would
probably hurt them more than
us to not put in place this
agreement so the trade would
probably be fine,
Many are worried that although
we will still get the trade laws,
we will have to pay but we
won’t get a say. However, we
have very little say within the
EU, and would most likely have
far more leverage outside EU
as an independent sovereign
nation and the world’s
6th largest economy. So the
reality is that the change
wouldn’t be as large as
everyone worries.
4