The latest on the impending "Brexit"
In or out? That will be the question for British voters come June 23 when they’ll decide whether Britain should stay in or pull out of the European Union.
The term for the possibility of a British exit is being dubbed a “Brexit.”
This weekend Prime Minister David Cameron met with European Union leaders in Brussels and won special status for Britain within the EU. That means the country doesn’t have to pay for things like child-tax credits or other types of financial aid for EU citizens in countries other than Britain.
Marketplace European correspondent Stephen Beard said big businesses want to stay in the EU because they fear Britain will encounter major tariff barriers if the country pulls out. But small to medium businesses feel differently and actually support “Brexit.”
“These are the biggest employers overall in the country who don’t trade with the EU,” Beard said. “And yet they have the cost and the burden of all the EU regulations and the red tape.”
But ultimately it won’t be businesses making the decision on whether Britain will stay or go. The people making that decision will be everyday voters.
“The polls are indicating a 50-50 split. Right down the middle,” Beard said.
The big issue for people who want to get out of the EU is immigration. They believe that the situation is chaotic and that if Britain is no longer in the EU, immigrants will have a harder time trying to get into the country, according to Beard.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
