On the date of June 23rd, UK is set to hold an in/out referendum on whether the nation should be a part of the EU (European Union) or not. This has been has been widely termed as Brexit, the British exit from the European Union.
Momentum has grown behind the EU exit campaign, which wants to end central control by Brussels and give Britain the freedom to manage its own affairs.The local results for the EU referendum will come in overnight with the national declaration expected at about breakfast time on Friday June 24.
Prime Minister David Cameron promised to hold a referendum if he won the 2015 general election, in response to growing calls from his own Conservative MPs and the UK Independence Party (UKIP), who argued that Britain had not had a say since 1975, when it voted to stay in the EU in a referendum. The EU has changed a lot since then, gaining more control over our daily lives, they argued. Mr Cameron said: “It is time for the British people to have their say. It is time to settle this European question in British politics.”
If Brexit indeed comes to pass, the effects on the British Nation will be both positive as well as negative. In terms of the economy, supporters of Brexit argue that EU countries have every incentive keep trading with the UK, which is a large importer of goods and services.Additionally,if Britain leaves the EU, it will no longer have to contribute billions of pounds a year towards the European Union’s budget. But there is uncertainty over what would happen if the UK leaves the EU and needs to develop new trade agreements with the rest of the world.
It is widely known that Prime Minister David Cameron wants Britain to stay in the EU as well as sixteen members of his cabinet. This is because they firmly believe that Britain gets a big boost from EU membership and also that Britain’s status in the world would be damaged by leaving and that we are more secure as part of the 28 nation club, rather than going it alone.
It depends which way you look at it – or what you believe is important. Leaving the EU would be a big step – arguably far more important than who wins a general election – but would it set the nation free or condemn it to economic ruin, which is something only time will tell.