The Business Exchange Swindon & Wiltshire Edition 25: June/July 2016 | Page 7

BUSINESS NEWS
Carl Reader is author of The Start-up Coach, a Teach
Yourself title from publishers Hodder & Staughton and
director of d&t chartered accountants and strategic
advisors, based in Badbury near Swindon. In this
column he discusses the big debate- Brexit.

BREXIT- My mind is made up
As we know, there is one thing that everyone should do
when they don’t have the facts to hand, they should learn,
learn some more and then reflect. You can never have too
many facts or too much information and on something as
important as whether the UK remains in the EU, the need to
be informed is essential.
I’ve made my decision by reading articles by
campaigners on both sides, including this very
impartial read – Europe In or Out: Everything
You Need To Know by David Charter.
My decision is that I am in favour of Brexit,
but to be honest, the decision has been
steered more by the political situation of the
European Union than how it will affect our
pockets. The reality is that it won’t make
much difference at all.
The Common Arguments
Many people are voting either way for the
wrong reasons (both in terms of legitimacy,
and also in some cases morally), such as:
Pro Brexit:
• It will reduce terrorism (yeah, right…)
• It will stop people nicking our jobs (there’s
a better way to stop that…)
• It will stop immigration
• “God Save The Queen”…
Anti Brexit
• No-one will trade with Little Britain (like
how we don’t buy anything “Made in
China”)
• Our national security will be threatened
• How will we get skilled staff?
• “It’s racist that you don’t agree with …”
Yes, the last argument on either side is
tongue in cheek – but not a million miles
away from what I see.

The reality – Business
There’s a simple fact here. Despite the UK
being a little dot compared to the huge land
mass of some countries, we are actually a
huge trading partner for many countries. We
are the 8th largest merchandise importer,
6th biggest importer of goods, and the 2nd
biggest exporter of commercial services.
The EU has a massive trade deficit with the
UK. In simple terms, they sell us more stuff
than we buy from them. Why would they not
look to arrange a trade deal?
And take this one step further. Do we
need a trade deal? We don’t have one with
the US: funnily enough, we can’t sign one
in our own right whilst a member of the EU.
And we certainly couldn’t become a member
of NAFTA.
Yes, our trade with the EU has increased
dramatically whilst in the EU. Guess who’s
trade has increased more? The rest of the
world – yup, those ones outside the EU…
And it goes without saying that they aren’t
members.
Our more natural trading partners
would be the countries of the former
Commonwealth and our former colonies,
as we share a common legislative system,
democracy, and in many cases language. We
currently struggle to deal with them due to
the tariffs placed by the EU on non-EU trade.
The reality – Immigration
Immigration won’t stop with Brexit. What will
happen however is the Government will be

free to choose it’s own system for deciding
who can and who can’t legally migrate into
the UK. How will this stop us employing
skilled staff from other countries? Whether
EU resident or not, migration could (and to
caveat this, it is of course up to each elected
Government) be based on need rather than
requirement – we will still be able to welcome
the German coder, the French artist, as well
as the Indian doctor and the Australian
lawyer.
Confusing a vote for Brexit with a vote
for closing our doors is a naive assumption
at best.
The reality – National Security
I’m no expert on this, but I appear to be
wiser than some who comment on this. EU
membership is not a pre-requisite for NATO
membership. The clue is in the first two
initials. And the fact that it was formed in
1949.
There’s an unfortunate reality in the world
– terrorism. Guess what? The terrorists will
work out how to get here if they want to,
whether we are in the EU or not. They might
already be here.
The reality – Social and Political Factors
I’m a strong believer in democracy. I believe
that decisions that affect us should be made
by a government elected by the people, not
an unelected official.
I’m also a believer in fairness. How is it fair
that we, as a nation, allow free movement of

those fortunate enough to live in a country
within the EU, which impacts on our ability
to help those in need from outside the EU,
OR accept those who can add to our society
from outside the EU?
How is it fair that we accept the intra-EU
cartel, which through trade tariffs effectively
forces us to trade within the EU, accepting
the red tape and bureaucracy that goes with
it, whilst financially penalising trade with
those outside the borders?

If Europe was done
properly, let’s say
more like the US, this
would be a very different
proposition. As it stands,
it’s an uncomfortable
halfway house; and one
that costs us more to
be in than out, in so
many ways.
Follow Carl on Twitter @CarlReader and
watch his series of business videos here:
http://ow.ly/ZsYZZ

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THE BUSINESS EXCHANGE 2016

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