The EU – To Leave or Not To Leave?

The EU – To Leave or Not To Leave?

EU

The UK will shortly be holding a referendum on whether to leave the European Union. This has led to a war of words between business organisations on either side of the debate. In light of this, we have presented a summary of both sides of the argument from a business perspective and also included links to online articles on the subject too:

The “Stay” campaigners say that Britain should stay in the EU because:

  • The EU is a single market in which no tariffs are imposed on imports and exports between member states (more than 50 percent of our exports go to EU countries)
  • According to industry sources, an exit could slow down the banking system
  • Leaving the EU could hit sterling by as much as 20 percent

The “Leave” voters feel that Britain should leave the EU because:

  • Leaving the EU would result in an immediate cost saving, as the country would no longer contribute to the EU budget
  • Leaving the EU could also lift the burden of bureaucracy on the UK business
  • Britain would be free to establish its own trade agreements

Further details can be found at:
http://www.independent.co.uk/news/business/news/eu-referendum-the-business-arguments-for-and-against-uk-membership-a6881226.html 

http://www.theweek.co.uk/eu-referendum

As the vote nears on June 23rd, there is a little evidence to suggest that the intensity of debate will lessen and one side will become more prominent than the other. Our local Chamber of Commerce is also hosting an event on Friday 20th May designed to provide attendees with information relating to the referendum, all the details of the event can be found at: https://staffordshirechambers.co.uk/events/making-your-mind-up-the-eu-referendum/

Whatever the result, it promises to be a landmark moment in UK history.