Our columnist Mr Money Bags, who has decades of experience in Finance, an MBA, an advanced diploma in Financial Planning and not to mention his super business skills, is here to give you, our loves readers some valuable tips and advice on money business matters. He is forthright and can sometimes be stern when it comes to your cash, but when it comes to finance he really is the expert. Read on for your business and finance advice…
“Our destiny is in Europe”, however “that is not to say that our future lies only in Europe.” These are the cautionary words of Margaret Thatcher in one of her most famous speeches. Is our destiny really solely Europe, or is it time to listen to the late lady and consider if our future no longer lies in remaining a member of the EU?
Come 6 months time, 23rd of June we will all be voting on whether the UK should remain in or leave EU. Do you know which way you are voting, or are you unsure just like many other people out there? Perhaps the greatest uncertainty is that no nation has ever left before. Greece came very close, but in the end remained within the EU.
So, what are the advantages of the EU? Well the ‘stay’ campaigners highlight our EU trade agreements, which they say outweighs the billions the UK pays for EU membership. The consensus is that by staying within the EU, the UK will have further investment opportunities, and London will remain the world’s biggest financial hub.
Also an important point highlighted by these campaigners is the position of the EU as our saviour for UK jobs, with quoted figures suggesting that the EU supports circa 3 million jobs in the UK. The Pro-EU tram also believes that the UK will be prone to terrorism and isolated without the EU.
In contrast, those favouring a ‘Brexit’ believe if the UK leaves the EU, then we can make our own, new trade agreements with countries around the world. We will also save on membership fees, and overall investment will remain as it is. Barclays has recently said that an exit would hit the EU more than the UK, as an exit by one of its most powerful economies would hit finances hard, and boost anti-EU movements in other countries.
In terms of jobs, by restricting free movement of people, would leaving the EU stop British people working in the EU or EU citizens working in the UK? I do not think so, as many people currently work in non EU countries; all that may be additionally required is a visa. I agree that by leaving we might have more control on our borders, but I disagree that by leaving we may have fewer issues linked to terrorism.
I am not sure about you, but I would rather we have a table discussion of the pros and cons of each decision, and then make an informed decision. The banter that we hear in the press surely makes it more confusing for voters, and I dislike the scare mongering that is going on from supporters on both sides.
Surely, the best way for voters to make a decision is by actually having sensible TV debates. I say sensible – but more to the point, I hope that we can make an informed decision as voters, and vote with a thorough understanding of what would happen if we stay and what would happen if we leave. No doubt over the next few months the Brexit is going to be a major issue, which we as citizens of Britain need to understand, take seriously and vote based on our individual understanding.
