Background#
- The EU was founded with the goals to spread democracy and human rights.
- Just over one year after being founded, they planed methods of sharing resources and strengthen ties between countries (mostly trade).
- In 1973 the UK joins the EU.
- The EU created standard regulations for trade across countries.
- Also created border-free travel.
- Created the euro in 1999, but the UK doesn’t hop in just yet.
- The UK claimed to be the EU’s biggest trade partner[1].
- Many, at the time of Brexit, viewed that after the UK joined the EU that their government lost control.
Brexit#
- Britain has always remained fairly large in the world of economic powers, this created an attitude that the UK was giving more than they received from the EU.
- The UK was never really fully in the UK to begin with, they where one of the few countries to primarily maintain their currency (GBP) over the EUR.
- Being apart of the EU limits the UK as an economic power as standard regulations revoke their full control.
Problems#
- Boris Johnson rushed brexit.
- The GBP hasn’t been able to, or hasn’t had enough time to, get back to it’s value, relative to the EUR, before Brexit.
- Leaving the EU removes trade benefits that decreased the prices of goods.
- The cost of traveling from the UK to the EU increased.
Why the Government believes that voting to remain in the European Union is the best decision for the UK. via HM Government. ↩