For the uninitiated, Brexit has been a topic in the news almost every single day for the past four months. But if you don’t know what it is and what’s going on, we thought we’d break it down for you so you know exactly what’s going on.
What exactly is Brexit?
Brexit is short for “British Exit” from the European Union (EU). The UK has been discussing a referendum – which they will be voting on today – on whether or not they should leave the EU, so that it can essentially give the UK the freedom to manage its own affairs.
First and foremost, what is the EU?
Wait, what is a referendum?
A referendum is basically a vote in which the public (everyone of voting age) can take part, normally giving a “yes” or “no” answer to a question. Whichever side gets more than half of all votes cast is considered to have won.
Okay, but why is this referendum thing happening?
“The British government has promised to hold a referendum on EU membership before the end of 2017. There have been growing calls for a vote on whether to stay or leave the union, as it has grown and become more powerful.
In the past, the UK has chosen to opt out of some key EU decisions, like the single currency or euro and the Schengen Treaty, which relaxed border controls. Prime Minister David Cameron wants Britain to stay in the EU, if certain changes are made to the rules – including lower benefits paid to migrants and greater protection for states not in the Eurozone.
Critics believe Britain is being held back by the EU, gets little in return for the money it pays in and would be better off taking back control of its borders.” (BBC.com)
Why is this referendum so important?
It’s kind of a big deal, because it not only impacts the UK, but the rest of the world too. Here are some reasons from Huffington Post on the reasons and implications of the UK leaving or staying.
Reasons to stay in:
- Jobs
It affects the decision, ability and chances to work abroad. Millions of jobs are linked to the EU membership, but there’s little evidence to show how many would be in jeopardy if the UK left.
- Trade
Some of Britain’s biggest trading partners are in the EU, and more than 50 percent of the UK’s exports go to EU countries. Membership to the EU allows them to have a say over how trading rules are drawn up.
- Travel and work
It’s easier than ever to work and travel abroad. Around 1.4 million British people live abroad in the EU. Membership makes movement around the continent simple.
- Crime fighting
The European Arrest Warrant allows criminals to be brought to justice across the EU.
- Global influence
The EU is the world’s biggest market and plays a big role in world trade, climate change issues, development projects and more.
Reasons to leave:
- Border control
Border control would be back in the UK’s hands. Many argue that attempts to control immigration into the UK will fail as long as they remain in the EU. This makes applying and working abroad for non-UK citizens extremely difficult.
- Cost saving
Estimates suggest membership costs around £24 million (R514 726 510.56) per day when rebates and other receipts are taken into account.
- Democracy
Laws made by the directly elected European parliament supersede legislation made by individual member state parliaments.
- Other countries exist outside
For example, Norway, which trades with the EU without being in it, controls its own farming and fishing, rather than being bound by EU quotas.