How Does the UK Feel About the EU Referendum?

There are two strong sides to the in/out EU referendum that is now likely to happen in 2017.

Those in favour of leaving the EU argue that it will be liberating, freeing Britain from EU's red tape, political interference and allow the country to trade more successfully with the rest of the world. Those against leaving the EU argue that the move away would cause a fracture between a major commercial partner and stunt foreign investment. Currently it is unclear what impact opting out might hold, since no country has left the EU before.

In 2013, David Cameron published a Review of the Balance of Competences Between the United Kingdom and the European Union. This review had proven that the UK's involvement in the EU was largely sensible. More than this, the UK already opts out of a lot of EU policies; Britain is not in the euro, not part of the Schengen passport-free travel zone and has its own special budget. It seems that the UK exercises a fair amount of freedom within the EU but Cameron still has his doubts, "We have real concerns. Our concerns are not outlandish or unreasonable."

But what are Cameron's concerns? He has yet to reveal his full negotiation terms but has however indicated at his priorities. These include things such as; freeing UK businesses from red tape, restrict in-work and out-of-work benefits to EU migrants and protection for London's financial markets from EU legislation. Cameron is also resistant towards a European Army and keen to change the UK from the Human Rights Act (requiring UK courts to follow legal precedents from the European Court of Human Rights) to a new British Bill of Rights.

Despite Cameron having these concerns it may not be enough to sway Britons to vote to move away from the EU. Grant Thornton recently published that 72% of UK businesses are worried about leaving the EU. These worries don't end in Britain either, 64% of Eurozone businesses believe a 'Brexit' would have a negative impact on Europe. There is a lot of uncertainty as to what will happen if the UK leaves the EU and Cameron might be in for a struggle to persuade voters against this fear. What do you think the impacts would be of leaving the EU on your business?

Did you like this blog? Let us know in the comments or share on Twitter