To what extent the withdrawal of the United Kingdom from the European Union would be beneficial for the country ? This is the question that everyone wonders, and I will try to answer.

Quitting the European Union would first be a good thing for the United Kingdom since it wouldn’t undergo any longer the obligations inferred by the membership. Indeed, the country would be better positioned to conduct its own trade negotiations for example, without needing the consent of the other member states. It would also take back the control over its borders and consequently on immigration and trade tarriffs. The withdrawal would also be a relief economically with respect to British businesses since they are constrained by the European Union’s regulations. Moreover, if the United Kingdom manages to maintain a close relation with the European Union and third countries through trade arrangements or through its entrance in the European Free Trade Association giving it access to the European Union’s internal market and the European Economic Area, it would see a consistent boost of its Gross Domestic Product and more generally its economic activity.

Yet, a “Brexit”, as it is called, means that the United Kingdom would have to produce new laws, enforce new policies and create new institutions to implement them, which is very costly and infers that the country has to start from scratch to catch up with the current status quo it has reached thanks to its belonging to the European Union. The European integration went so far and the influence of the European Union’s legislation and developments is so significant that a withdrawal would be made very complicated. Besides, if the United Kingdom is considered as a third country by the European Union, it would lose its privileged relation with it and its influence over the decisions it takes. That would lower the foreign investments of firms which are attracted by the country as a part of the European Union, thus reducing its GDP. There would be a huge negative impact on the British economy and businesses, especially in the banking sector, the transport industry and the financial services with the London City’s status as the European market leader not recognized any longer. Furthermore, as borders would be reestablished, so would be border checks, and trade costs would increase.

Constitutional consequences of a withdrawal are also to be taken into consideration since the European Union’s law is incorporated into devolution statutes, which is highly problematic because it means that they have to be modified. Plus, a “Brexit” wouldn’t alleviate the Scottish will of independence since Scotland is mostly pro-Europe, and would alter for sure the peace process between Northern Ireland and Ireland with new barriers. It can all the more be inferred that the European Union will be seized upon far right leaders to redraw boundaries.

Finally, it seems like a “Brexit” can only be beneficial if the United Kingdom manages to keep links with the European Union and bargain agreements with third countries. Third actors’ will thus play a major part and will determine its success or failure.