COVENTRY: The EU referendum- what will happen next?

The EU referendum is being held on Thursday the 23rd of June, this is where we get the chance to decide whether we want to stay in the European Union or leave it, this can be known as ‘Brexit’ (Britain exiting the EU). The questions are, what will happen if we leave the EU or decide to stay? And what effect will this have on the public? There are many reasons why we should stay and many reasons why we should leave, for some people it’s a no brainer but for others it’s a rough decision to make. The main question people are asking is what will happen to us financially?

Financially Leaving the EU would straight away mean we would be saving some money because the country would no longer need to contribute to the EU budget as we would be on our own. Open Europe also estimates UK businesses will save at least £33bn from not having to follow EU regulations anymore. Also, leaving the EU will allow Britain to trade more freely with the rest of the world; however the EU is the UK’s main trade partner so this means exiting the EU is likely to lead to lower trade because of the higher tariff and he non-tariff barriers to trade. So all in all the money situation could do either way, we will gain by not paying into the EU budget but then we will lose in trade. As well as this any imported foods/wines, any imported goods could rise if we leave the EU if the tariffs are imposed.

Staying in the EU could secure our jobs; millions of British jobs (around 1 in 10 job) are linked to the British membership of the EU’s single market, so if we leave, this could potentially risk our employment.

If the voters decide to leave the EU then it wont just all suddenly change, there is a very minimum of 2 years (some say 9 years) before anything with happen, this is because its going to take a lot of time to negotiate and work out what the next steps will be and what will happen between the UK and the EU with what kind of relationship it will have. It all just depends on whom you are with what will be the right decision for you to make, it will affect us all in different ways and there is no certain yes or no whether leaving the EU will help us or set us back. Especially with the fact that no state has ever left the European Union so it’s hard to know for sure what will happen.

 

Brierley Watts

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