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What is Brexit? and its impact

Brexit is made up of two words, Britain and Exist or Br-Exit. The Brexit event was an eu referendum poll held on June 23rd, 2016. This poll’s primary purpose was to know about Britain’s citizen’s uk eu opinion about Britain’s staying in the EUz.

The Confidence Before Brexit

Before the start of the Brexit, most of the media outlets, politicians, and public in general were holding onto a belief that Britain would remain in the EU. The general mood was that of optimism towards staying within the EU. But, as the results of the eu referendum poll Brexit unfolded, things took an altogether different turn.

Arguments Favouring Staying Within EU  

The biggest argument of favouring staying within the EU was an increasingly uncertain world. The slow but definite tectonic shift of power from the west to the east has dawned a new era of emerging economic and military might. Russia is already flexing its military muscle and increasing its world dominance, which makes Brits worry about their future. By staying in EU, Britain would keep on enjoying the power which is hard for it to enjoy otherwise. More than half of Britain’s trade is with the EU. By exiting the EU, Britain’s trade of £ 400 billion a year would seriously get impacted. An estimated 10% of the UK”s GDP would be wiped off due to Brexit as foreign companies investing in the country would pull out. The mobility of labour into the EU from the UK would help create more jobs. If Britain exists EU, there would be a massive shrink in the job market.

Arguments Favouring Brexit

There were many reasons why many Brits wanted to have Brexit happen. The biggest argument was that Britain would become a sovereign nation again. The country would be able to realize its real potential outside the European Union, that’s reason of eu referendum poll.  As the world’s 5th largest economy and 5th biggest military power, it would reclaim its space as one of the power centres of the world. It would not have to go through the scrutiny of Brussels bureaucracy. Britain has paid £ 125 billion to EU which could have been spent on its economic development. The taxpayers would realise an estimated daily savings of £ 20 million. Britain would no longer have to live within the EU regulations. It would have more control over its borders. And it would be able to stop the unchecked flow of immigrants. Britain’s parliament would be able to make all its decisions by itself instead of taking dictation from the EU.

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