8.1 - Impact of EU on the UK Flashcards

1
Q

BENEFITS FOR THE UK

A

BENEFITS FOR THE UK

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2
Q

What did membership of the EU provide the UK with?

A

Duty-free access to the world’s largest trading bloc

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3
Q

What % of British trade was with the EU in 2016?

A

43%

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4
Q

How much did EU citizens living in the UK pay in tax in 2013-14?

A

£14.7 billion

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5
Q

How much did EU citizens living the UK claim in tax credits and child benefit in 2013-14?

A

£2.6 billion

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6
Q

How much is it estimated that UK GDP will drop as a result of leaving the EU?

A

4%

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7
Q

How much has business investment decreased as a result of Brexit?

A

£340 billion

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8
Q

Where did Astrazeneca decide to move a factory to despite planning for it to be in the UK?

A

Ireland (EU member)

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9
Q

Why did a Chinese car maker say they will not open a factory in the UK?

A

‘Because of Brexit’

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10
Q

Where is the UK passport ranked in the passport index?

A

Tied 13th

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11
Q

Where was the UK passport ranked in the passport index in 2010?

A

1st in the world

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12
Q

Arguments against membership of the EU

A

Arguments against membership of the EU

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13
Q

What has the EU been accused of?

A

Having a democratic deficit at its heart

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14
Q

How much did the think tank Open Europe estimate the implementation of EU regulations cost the UK every year?

A

£33 billion

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15
Q

How much was the UK’s net contribution to the EU in 2017?

A

£8.9 billion

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16
Q

In what case was the Merchant Shipping Act found incompatible with EU law?

A

Factortame case 1988

17
Q

ECONOMIC IMPACTS OF BREXIT

A

ECONOMIC IMPACTS OF BREXIT

18
Q

What was the rate of inflation in March 2023?

A

10.1%

19
Q

How much lower are post-Brexit investment levels than the pre-referendum trend?

A

30%

20
Q

How much higher is post-Brexit investment in the EU than the pre-referendum trend?

A

2% higher

21
Q

What is the only economy in the G7 to not have reached pre-pandemic size?

A

The UK economy

22
Q

According to a study by the Centre for European Reform, what % poorer is the UK economy than it would have been if it had stayed in the EU?

A

5.5%

23
Q

How much higher would tax revenues be in 2023 if the UK had stayed in the EU?

A

£40 billion

24
Q

How much is the UK Australian trade deal estimated to increase the UK GDP by?

A

0.08%

25
Q

What is the estimate for the decrease in the size of the UK GDP as a result of Brexit?

A

4%

26
Q

What large corporation decided to set up a factory in Ireland instead of the UK?

A

Astra Zeneca

27
Q

In March 2023, how much did the OBR predict imports and exports would decrease by in the long run?

A

15%