Brexit Why it is needed?

Brexit has been a hot subject in the past few weeks as the UK is nearer to withdraw itself from the EU. As Brexit is around the corner, it's becoming a great topic whether Theresa May cannot present the deal, but also passed this deal through parliament. Till now Theresa May cannot give the bill.

There are many problems in the queue such as trade deal, Irish border, and EU people living in the UK and vice versa, but in this blog, we will see why the UK needs Brexit.

To understand lets first see what the EU is.
The European Union is a political and economic union of 28 member states that located primarily in Europe.
They established the EU in 1999 and came into full force in 2002.

EU has developed a single internal market through a law to all member nations. The main aim of the EU is to have a free movement of people, goods, services, and capital within the internal market. The EU also makes the rules for trade.

In simple words, the EU provides a collective barging power with any country, i.e. It collectively takes decisions on trade with non-European countries.
The EU also provides its member countries for easy labour migration. Because of which any EU citizen can migrate for work in any of the EU countries.

There is a free border along with the nations of the EU.

Because of the collective effort, EU countries have successfully achieved a developed economy tag.

Every country helps each other for economic development and as it said “power of unity” indeed applies for EU nations as every country want to do business with EU nations and their currency EURO have more value in the market than the world superpower Dollar.

Do all these businesses has flourished in across Europe and many technological, and economic advancement, has achieved by the EU, but as you know every coin has two sides, EU also has some negative, but many positive things overshadow that.

So why then the UK wants to leave the EU?

In fact, in the referendum held on 23rd June 2016 people just voted 51.9% in favour of leaving the EU, which shows how narrow the decision was and people in the UK also confused between them.

Most of Scotland were in favour to stay in the EU.

Now the UK had taken the decision to leave the EU, but what are the reasons because of the UK want to leave the EU to let’s discuss.

1.      Restrictions on the UK’s lawmakers–

                                                            They have introduced Approximately 52,741 laws in the UK because of EU legislation since 1990. There are about 12,000 EU regulations in operation in the UK.

Some laws are which affected the UK–

The EU Climate and Energy “20-20-20” Package: Laws implementing the EU Emissions Trading Scheme to cut greenhouse gas emissions from major industries and various financial incentives to achieve 15% of UK energy from renewables by 2020;
Chemicals (REACH), hazardous substances (RoHS) and packaging requirements which UK manufacturers have to comply with to sell into the EU;
The Working Time Directive: Giving workers the right to a minimum holiday entitlement each year and limiting the working week to 48 hours;
The Temporary Agency Workers Directive: Seeking to give equal rights to agency employees and permanent employees carrying out the same job within a business;
The Capital Requirements Regulation (CRR) and Capital Requirements Directive: Setting out essential obligations for EU banks, including implementing Basel III prudential requirements, establishing the pass porting regime for banks and imposing remuneration requirements.
The Common Fisheries Policy gives European fishing fleets equal access to the waters of all EU states within 12 nautical miles of the coast and imposes quotas to preserve fish stocks.

2.      Forced to adopt the Euro-

                                          As you know the UK uses the Pound and most of the EU countries use the Euro, and the EU plans to force the Euro to all of its member nations.
The UK has pushed in the past to accept the Euro but the UK denied as the value of the Pound was higher than the Euro, and the Pound has more value in the international market and referred as more stable currency than Euro. So the UK did not accept the Euro and continue to use the pound.

Now the EU is forcing all its member countries to accept the Euro as their currency which the UK consistently opposes.

The EU said the member nations have to accept the Euro by 2020.

3.      Immigration laws-

                                The more significant dispute is immigration laws. As people from any country can easily migrate to the UK and have the benefit of working in the UK because of which it affected the resident.

Many migrants leaving the less developed country to more develop the land. Because of the war in Syria, many people migrated from there.

It's estimated that 3, 30,000 people legally immigrate, but the UK want it to be near 1, 00,000.  This is happening because the EU is deciding the immigration policy, not the UK.

4.      Membership fees-

                                Every EU country has to pay fees as the membership fees to the EU, but the EU also returns the money as a benefit to the state and this fee is not equal for every nation it depends upon the size of the economy because of which the UK has problems because of a big economy compared to other countries.

They estimate it the UK has paid 13 Billion Pound as a membership fee and in returns; the UK get 7 Billion approximately.

5.      Economic slowdown-

                                      The UK can develop more quickly than current speed if the UK leaves the EU as there are many laws has been imposed on the UK, which restricts its growth if the UK leaves the EU then it can create its rules which is more beneficial for the economy.

Above are factored because of which the UK wants to leave the EU.

The UK has taken a definite step in favour of their economy, and if it will positively affect the UK’s economy, then I would support the Brexit, but it all depends upon the deal which will be signed between the UK and the EU.