The Instigator
IrishEconomist
Pro (for)
The Contender
UnspeakableRebel
Con (against)

Does Brexit spell the end of the UK as we know it?

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Debate Round Forfeited
UnspeakableRebel has forfeited round #2.
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Voting Style: Open Point System: 7 Point
Started: 3/2/2018 Category: Economics
Updated: 3 years ago Status: Debating Period
Viewed: 468 times Debate No: 110027
Debate Rounds (3)
Comments (2)
Votes (0)

 

IrishEconomist

Pro

I believe that the British government rushed the arguments for and against the UK leaving the EU. The national debate was too short, and the electorate really didn't get a chance to properly weigh up the consequences of their decision. Scotland and Northern Ireland opted to stay in the EU, and the Welsh vote was close. I believe that if the UK gets a poor deal from the EU, it will dissolve like a disprin and the pain will be felt by the man on the street.
UnspeakableRebel

Con

Brexit was a relatively okay decision made by the UK. It proved that the UK could be independent in its economical structure and its trade. This effect was achieved; maybe not right after the referendum, but by now the UK has been doing well in many areas.
Debate Round No. 1
IrishEconomist

Pro

I hope it all works out for people in the UK because believe me it is the people that will suffer, not the well shod and the politicians.
I can't blame the British people in a way. When you joined the EEC in 1973 it was to an economic zone, now its practically the United States of Europe. Treaty by treaty it got to this point.

Britain's problem is the immediate to the medium term, there is no plan at the moment, and I sadly believe that it is essential that the UK gets a terrible deal [or none] from the EU. Why ? You can't be seen to succeed then the other members will fly the coop as well.

In the City of London every mobile penny will fly out in the next year UNLESS 'pass-porting' is achieved. That means an EU financial firm can trade in other EU countries. This is a VERY big ask. 1 in 4 London jobs is a banking job.

I could go on, but this will not work out well and I don't want to be accused of being a panic monger. The best solution would be to leave ... but stay in the custom zone and the single market. You will have to be able to make a living your first day outside the EU.
Good luck ... but be wise.
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Debate Round No. 2
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Debate Round No. 3
2 comments have been posted on this debate. Showing 1 through 2 records.
Posted by jacobdurcan 3 years ago
jacobdurcan
The reason why the UK have not felt any economic consequences after the brexit refferendum, is because the UK will first leave the EU customs union after the 2 year time span that has been set for the negotiations. The customsunion and the internal market, is what assures the free movement of capital and goods. If the UK leaves the negotiations or the negotiations breaks down for some reason, then the UK and the EU will have to trade on the terms that are set by the WTO, which will include tariffs on goods and capital traded between The UK and The EU.

The Consequences of this will be felt by the UK consumers, who will experience higher prices for products produced in Europe, and will aswell find it more difficult to sell UK products in Europe. This will be a problem, as over half of british exports goes to Europe, and could result in British job losses. EU countries will feel consequences as well, and my home country, Denmark, will be hurt a lot, as Britain is one of our largest trading pertners.

Even if a deal will not be negotiated, it will not be the end of the UK, but it will experience a lot of political turmoil, especially with the posibillity of another Scotland refferendum. It will have to make a lot of economic reforms, so to make it a more attractive destination for foreign investments, compared to the way bigger EU market on the other side of the channel. This could result in reforms that will disadvantage the poor, or people who are just getting along, and can result in a more unequeal UK.
Posted by jacobdurcan 3 years ago
jacobdurcan
The reason why the UK have not felt any economic consequences after the brexit refferendum, is because the UK will first leave the EU customs union after the 2 year time span that has been set for the negotiations. The customsunion and the internal market, is what assures the free movement of capital and goods. If the UK leaves the negotiations or the negotiations breaks down for some reason, then the UK and the EU will have to trade on the terms that are set by the WTO, which will include tariffs on goods and capital traded between The UK and The EU.

The Consequences of this will be felt by the UK consumers, who will experience higher prices for products produced in Europe, and will aswell find it more difficult to sell UK products in Europe. This will be a problem, as over half of british exports goes to Europe, and could result in British job losses. EU countries will feel consequences as well, and my home country, Denmark, will be hurt a lot, as Britain is one of our largest trading pertners.

Even if a deal will not be negotiated, it will not be the end of the UK, but it will experience a lot of political turmoil, especially with the posibillity of another Scotland refferendum. It will have to make a lot of economic reforms, so to make it a more attractive destination for foreign investments, compared to the way bigger EU market on the other side of the channel. This could result in reforms that will disadvantage the poor, or people who are just getting along, and can result in a more unequeal UK.
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