Leaving the EU… wouldn’t all Britons benefit from that? They would be independent from any of Brussels’ regulations. The United Kingdom wouldn’t have to ship off millions of pounds to Brussels and could use these for their own priorities. Britons wouldn’t have to carry the can for other countries’ failures and pay for them. And Britain could set its own trade agreements with the rest of the world.
However, what now sounds like a real heaven could turn into a huge economic disaster for the UK – as shown by our recent study Costs and benefits of a United Kingdom exit from the European Union.
In the “soft exit” scenario, the loss of real GDP per capita in the UK corresponds to 0.5%. In the “isolation” scenario, GDP would decrease by 0.65 to 3% as compared to staying in the EU.
Furthermore, the long-term consequences may even get worse: Less trade would mean less competition for the country, leading to fewer innovations… so a “Brexit” would be a loss to all – especially the Britons.
Despite all challenges that may arise from an EU membership: It pays off!
Check out below our Animation Video on Brexit.
For more on Brexit read our Policy Brief and our study on the Costs and benefits of a United Kingdom exit from the European Union.