When I first heard/read "Brexit" I had no clue what it meant, let alone the pros and cons of it. As I delved into the never ending amount of articles that included "Brexit" in the title, I learned so much more than I ever would've imagined. After reading each article I had so many questions. With my curiosity sparked, I went further into the depths of the internet and researched the topics I wasn't understanding. It became very clear that there are two sides to this decision (just like every choice): pros and cons that change depending on your views of the situation. For people like me who weren't sure what is what, here is the simple (as simple as possible) breakdown of "Brexit".
What Is "Brexit"?
On June 23rd, 2016, the people of Britain voted in a National Referendum on whether or not they will remain part of the European Union (EU). "Brexit" is a term that is used for Britain's decision to leave the EU. The polls for this vote showed that roughly 52% (17.4 million) voters chose to leave the EU, and about 48% (16.1 million) voters chose to stay.
Pros Of "Brexit"
People who are in favor of "Brexit" are those who voted for Britain to leave the EU. One reason many voters felt strongly towards leaving the EU is that they felt that Britain no longer had its own identity. These people felt as though they were under an overcast of the EU; that they lost possession of their national sovereignty. Britain leaving the EU would give them back their identity.
Another reason voters felt strongly about leaving the EU was that it would save Britain money. With Britain being part of the EU, roughly 11% (about $200 billion) of the annual GDP was spent on things that were directly related to the EU. Leaving the EU would give Britain the chance to have their own financial regulation that would better suit their own economy, not the entirety of the EU.
A very frequently spoken reason for leaving the EU is that Britain wishes to be able to make their own rules and regulations in regard to immigration. As of now, many British citizens feel as though the country is being taken advantage of by people from other countries, mainly when it comes to "Benefit tourism". Some citizens feel as though people move to Britain specifically because of the NHS.
Cons of "Brexit"
Voters against "Brexit" believe that Britain leaving the EU is not the right way to go about things, they believe that leaving would be a mistake. Many people feared that leaving the EU will damage the economy from a trading point of view. About roughly half of the UK exports are to the EU, and imports are from the EU. Any sort of trade relationship with another country that they once had will have to be reestablished because they are no longer part of the EU. Having to gain back connections for trade can be a lengthy process, meaning the British economy could take a very severe hit.Another reason citizens were against leaving the EU is that they feel there is nothing wrong with the current immigration system. They look at the statistics and recognize that immigrants from the EU to the UK are more educated than those who reside solely in the EU.
They view allowing immigrants as a positive thing that benefits the country.
As we see with many events in media, there is a great amount of talk and publicity that goes on when things happen. But change takes time, and with time larger things can be altered.