OVERVIEW OF BREXIT- ITS PROS AND CONS

Author: Kohina Jain

INTRODUCTION

Brexit refers to the “British exit” from the European Union (EU). The U.K and the European Union were members since 1973. But this scenario has changed on June 16, 2016, when the U.K. voted to leave the European Union after the referendum passed. Residents of the U.K. decided that because of free trade benefits with the European Union, free movement of immigration is increased and this is not beneficial for the U.K. 17.4 million people voted in favor of leaving Europe and 16.1 million people voted against it.[1]

Mostly the older people of the U.K. have insecurity with the free movement of immigrants and refugees they afraid that the people from poor countries were taking jobs and benefits in the U.K. While those who voted to stay in Europe liked free trade with the EU, and they thought that most EU immigrants were young and eager to work. Also felt that the U.K. global economy status would damage with leaving the EU. There is a transition period up to and including 31 December 2020 was in place. In that period nothing changed between the UK and the EU theycontinuedto as before. From 1 January 2021, the UK and EU started their new agreement and it replaced the existing arrangement under the transition period.

Pros of Brexit

1. Cost Saving

Due to Brexit, the nation can save its money because in the year 2016 13.1 euro billion was paid by Britain for the multinational structure while it spends only 4.5 euro billion. This is one of the reasons for the passing of Brexit during the voting because it involved the cost of membership for the European Union. So overall there is 8.6 euro billion loss nation had to face in one year only. This amount of money can be saved used for many other projects.

2. New Job Opportunity Create

After leaving European Union there is an expected drop in immigration rates because the UK no longer obeys the European mandates it creates new job opportunities for UK citizens related to trade policies and procedures. All this happened because trade increases after separating

3. Decreases the issue for Immigration Concerned with the European Union

Before Brexit the UK had to obey the EU laws one ofthe laws was the member of the nation is not allowed to restrict anyone from another state who is also living there. Britain had the right to move anywhere nobody preventing them from doing any work and living any place. Because of this rule, numerous people moved toward the UK for taking advantage of opportunities. But after the separation, it was allowed to maintain immigration and it would be best for the nation.

4. Border Security Improve

One of the politicians of the UK suggested that terrorism was experienced in Europe because of the free movement of immigrants that was allowed by the EU. The expert told that country should close borders with the EU for checking the visitors and control the movement of people.

5. Shifting the Prominence of the Trade from Britain

At the global stage, EU-28 is considered an export and import block. After separating from the European Union it allowed the UK to starts its trade partnership rather than dependent on the international regulatory body. Now the UK takes step for trade relation for itself. The UK was not allowed to be contributing voice in the process of trade and also The UK was no longer suppose to be benefited from the trades by the European Union.

Cons of Brexit

1. Exclusion of Maternity Leave, Workplace Safety, and Equal Pay

One of the important aspects of life is excluded from the Britain people's life. Now equality for women by Britain seemed very low, and they were refused to pay equal salary and other benefits to women and minorities. For a divorced wife, there are no rights available for her against discrimination as before.

2. Shortage of Labour after Brexit

With the decrease of immigration rates job opportunities were created for people who stayed in the country but the shortage of labor was created as well. This will be the barrier to the economic growth of the country. The shortage of labor problem arises because the population drop after separation and there will be less demand forgoods and services that were sold domestically. Shortage of skills is a sign of red flags for the economic growth of the country.

3. Threat for the Protection of Food, Health, and Animal’s Right

The European Union originated many rules food standards are followed by Britain. This is a good thing for Britain and Britons were quite comfortable with this because the harmful addictive things using all around the world, were not operating in Briton. In 2012 the EU also banned animal testing for the membership bloc. But after Brexit, there will beanxiety for the animal welfare standards that may shift once Brexit starts its journey.

4. Loss of High-skilled worker from Europe

According to education data of Britain and remaining members of the European Union, The EU workers were more educated than Britons.The immigrants who are moving from Europe to Britain were contributed too high in financial assistance even more than they required in cost support.

5. Rise in Energy Bills of Household

Because of the separation from the European Union, The UK would not be capable of negotiating on price as before. This increases the amount of spending on energy bills of a household. Britons will pay more for higher cooling and heating price.[2]

CONCLUSION

Brexit happened because after the 2008 financial crisis it intensified the opposition in Britain. And Britons were afraid of immigrants from poorer EU states and refugees from Syria, The Middle East and Africa further intensified skepticism among the voters and politicians. There are various pros and cons of Brexit.

REFERENCES:

[1]The Electoral Commission. “Results and Turnout at the EU Referendum.” (Accessed Jan. 6, 2021),https://www.thebalance.com/brexit-consequences-4062999 [2]Amit Kumar: Pros and Cons of Brexit May 20 2020,https://www.freestudy.com/pros-and-cons-of-brexit-essay-tips/