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Uk Membership of the European

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UK Membership of the European Union

The case for British exit from the European Union 1. Free trade * Britain could have the opportunity to negotiate new free trade agreements with major EU trade partners and fast-growing emerging countries such as the BRICs, MINTs and Sub Saharan Africa * Britain would benefit from freeing itself from many of the EU's complex and expensive laws & regulations

2. Budget savings * Leaving the EU would cut our contributions to the EU budget - a UK fiscal windfall * Food prices would possibly be lower if we left the Common Agricultural Policy (CAP)

3. Exports * The UK is Europe's biggest export market. So Europe needs the UK as a trade partner for both to be successful in the long term

4. Economic policy autonomy * The UK would retain greater control over fiscal and monetary policy and also gain more freedom over labour market, competition and environmental policies

Some arguments – The case for staying within the EU single market 1. Free trade * Risk of losing trade benefits of being inside single market, lower per capita GDP * Attractiveness of the UK as a destination for FDI would be diminished * Adopting a position similar to Norway (which is outside of the EU) would mean the UK accepting many EU rules without having a say in their formulation

2. Market Access * UK will lose tariff-free access to its largest export market * London would no longer be the EU's financial hub * No guarantee that the UK could negotiate an arrangement to Norway or Switzerland 3. Extra costs * Extra costs for businesses as they ajust to new legal frameworks outside of the EU * Europe might decide to retaliate and prevent favourable trade deals with UK * UK's net annual spending on the EU budget is tiny – less than 1% of GDP (about the same as UK…...

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