Brexit

Question 1

What Is article 50

Answer 1

sets out the process by which member states may withdraw from the EU

Question 2

What are some of the economic costs of Brexit

Answer 2

• Cost of referendum= 269 million Euro
• Unemployment fall= to 43-year low
  -decrease in trade- impact on workers as a decrease in UK exports by 15.8%
  -Lost manpower- cost 30 billion euro in lost tax revenue
  -Est to cost 4% reduction in GDP in 2021
  -lost of 2.5 billon euro of GDP`

Question 3

What are the pos impacts of the EU on sovereignty

Answer 3

• Average EU citizen is 840 euros richer per year- b/c os the single market
  -The Eu provides 65 billon euros in agriculture subsides