A crucial referendum took the world by a sheer shock, as Britons voted to leave European Union(EU) on June 23th recently. While the result is based on majority votes, the decision of leaving European Union (EU) is a turning point in Britain’s history; as it will not only change course for Britain’s future, but will also have deep seated effects on world’s politics and economy.
‘Leave’ won the battle of BRExit at the first place, leaving most of us wandering around ‘why and how?’
“Britain is better out, we now can stem the flow of immigrants and keep our tax payer’s money here in Britain. We managed before 1974, we can manage again.” These words of Boris Johnson, London’s Mayor and the leader of the ‘leavers’, pretty much sums up the viewpoint of those who voted to leave. Boris is a main character behind this crucial vote out, as also the to-be PM of UK after resignation of David Cameron.
In campaign phase, ‘leavers’ were able to vocalise a common argued script, unlike the clumsy collision of the ‘remainers’. Leave campaign was indeed better.
BRExit is a historic decision for whole of the Europe. ‘Leavers’ claimed that most of UK’s laws (nearly 65% according to Group Business for Britain) are influenced from EU. Nearly all major political decisions stem from the Union. Moreover, EU costs British tax payers almost 165 million pounds per week. And if any other argument was left, here it is with UK’s net contribution to EU in 2015 being 8.5 billion pounds, which is definitely huge.
Speaking in favour, after leaving EU, Britain will be able to make laws independently. As EU member, Britain was forced to allow citizens of all 27 member nations to live and work in UK. But, the separation will give power to Britain to limit the immigration in the Kingdom. Nevertheless, it will be very difficult to seal the borders, because of free trade and single market relations with rest of the European nations.
On the other hand, now since Britons have opted for leave, there is a strong economic blow in UK. BRExit has blown a market of 500 million people and EU’s tariff free internal trade, which included 45% of UK’s export and 53% of UK’s import. Of course, Britain will be poorer outside EU, with per capita income of Britain expected to fall 1.1% – 3.1%. Moreover, ‘remainers’ claim that Britain will be less safe outside EU with constant threats from IS to Russian Muscle Flexing.
But beyond all this, for India, BRExit perhaps is an open opportunity. Although it’s difficult to admit an empirical impact on India’s real economy. It’s likely that UK will seek trade agreements with Non-EU partners, including India. Immigration for Asians will be easy in Britain. There will now be no EU regulations on trade negotiations.
Overall, Britain’s decision to quit EU is a difficult, yet a courageous one. Everyone is unsure if Britain will gain through BRExit or not, but this is one sure step towards true independence.
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I am doing psychology hons from MCMDAV College.
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