Daily Management Review

Is Britain Stronger in Europe?


10/19/2015


Research Center of Economics and Business has prepared a report according to which the withdrawal from the EU would deprive the British economy of a number of advantages. At the same time, the decision to remain within the EU, ready to carry out market reforms, may bring additional £ 58 billion and 790 thousand new jobs to the UK by 2030.



Vaughan Leiberum
Vaughan Leiberum
Research Center of Economics and Business has prepared a report specifically for a lobbying organization "Britain stronger in Europe", according to which the withdrawal from the EU would deprive the British economy of a number of advantages.

As reported on Sunday by the agency Reuters, the document notes that if Britain votes for the preservation of the membership of the European Union and achieve market reforms, by 2030 its economy will receive an additional £ 58 billion and 790 thousand new jobs. The creation of a single digital market and the development of financial, transport and energy sectors will enable the British economy to achieve growth of 2.8% of GDP, which is equivalent to £ 2,832 per family. Leaving the EU would deprive the country of all these advantages, since the UK will have to re-negotiate with European partners on conditions for access to their markets.

Recall that a referendum on leaving the UK from the EU may be held within the next two years. At the same time, there is a possibility that this will happen in 2016. Prime Minister David Cameron is trying to actively use the referendum as an instrument of pressure in negotiations with the European partners. The Prime Minister wants to make the European Union carry out a series of reforms that would provide greater independence and strengthened the position of the United Kingdom. A week ago, Mr. Cameron, in particular, voiced four points, the implementation of which considered necessary to ensure that the United Kingdom has agreed to maintain membership of the EU. Among these requirements is, for example, the recognition of EU as a multicurrency Union, which de facto is an opportunity to strengthen the status of the pound.

London also requires greater independence for national governments, including the ability to reject directives in Brussels for themselves and even cancel some of its previous decisions. Finally, the British government do not want to have anything to do with migrants pouring into Europe from Syria. For example, in early October at a conference of the ruling Conservative Party, Interior Minister Theresa May came with an extremely tough speech on the problems of migration. Mrs. May noted that the flow of refugees will not bring the country any benefits, and the state will have to pay for them by building homesand giving them a place in the schools and kindergartens. And the majority of ordinary Britons agree with the head of the ministry - almost no one wants to even see the refugees at streets. According to a survey conducted in early September, only 16% of the UK population would agree to have a Syrians family as neighbors. A majority of respondents agreed on the fact that the UK is not to be taken in by refugees. Thus, the UK’s leaving the EU on the results of the referendum is a very real prospect.  

source: bbc.co.uk






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