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BREXIT AND THE ECONOMY

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Description of the economical consequences that Britain could face if they left the European Union.

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Edad recomendada: 15 años
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Marita Matesanz
Marita Matesanz
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BREXIT AND THE ECONOMY

Description of the economical consequences that Britain could face if they left the European Union.

Marita Matesanz
1

Norway could income Britain Unfortunately EU negotiate exports economy investment deals important decide

- People are saying that Britain's will suffer if we vote to leave the European Union , but is that really true ?
- Well , the European Union is Britain's most trade partner . It buys 44%
of our exports and supplies more than half of our imports .
- So leaving would hurt us . . .
- Well , yes , I mean , our to the EU are worth 13% of GDP .
- Couldn't we vote to leave the but keep free access to their market ? Isn't that what Norway does ?
- Well , we could copy Norway but there will be strings attached .
- What strings ?
- Norway has to submit to Brussel's regulations . has to keep its borders open to people from the European Union .
- I see .
- And Norway has to pay for its deal with the EU .
- Contribute to the budget without being a member , that sounds like taxation without representation .
- I suppose you call in that .
- What about Switzerland or even Canada ? I've heard Boris talking about that . Couldn't we follow what they do ?
- Switzerland and Canada have done with the EU , but they don't get special access to the market for financial services which are an important British export .
- But we would still be a member of the World Trade Organization . Wouldn't that protect our right to sell stuff to Europe ?
- , the WTO doesn't do much to protect free trade for services , which account for 70% of our economy .
- But couldn't Britain a better deal than Norway's or Switzerland's ? After all , the EU would be desperate to do a deal with us . It sells more to us than we sell to them .
- Actually , we would be the desperate ones . They export more to us but they are bigger so their exports to us account for only 3% of their national , meanwhile our exports to the EU are worth 13% of our national income .
- So , bottom line , what would happen to our economy if we voted to leave the EU ?
- We would trade less and we would attract less foreign since we could no longer promise hassle - free access to the EU .
- So should stay in the European Union ?
- It's your vote . You .

This videographic is sponsored by InFacts . org , a journalistic enterprise , making the fact - based case for Britain to stay in the EU .
For more InFacts , go to InFacts . or g

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