Whether you agree with the result or not, most people would agree that the referendum held on the 23rd June was a great exercise of democracy –many people across Europe (the Dutch especially) would also like their own say on European Union membership but currently do not have the opportunity . Hence, this event is truly unique and monumental in that after 41 years since the referendum on UK’s membership of the Common Market in 1975, the people of the UK were once again consulted on their opinion. This topic is controversial and emotive, there will clearly be a large variety of opinion. There is no doubt in my mind that the UK would be better off leaving the EU and this is a view I have held for some time. There are several points which are often made by those in favour of remaining that I would like to address:
Immigration: “Voting to leave the EU is xenophobic and racist ”
Not only is this statement narrow minded, I would actually argue the opposite – being part of the EU requires you to be discriminatory against non-EU nationals. The current immigration policy in the UK gives uncontrolled entry to EU nationalist whilst non-EU nationals are required to apply for the right of abode, work visas and the like. With high levels of immigration over the past two decades the government has had to turn away an increasing number of non-EU nationals in order to attempt to meet their mandate or reduced net migration. This sort of system is highly unfair in my opinion – I would like to see an immigration system where non-EU nationals are not discriminated against and everyone wanting to come and live in the UK are judged based on the same criteria. A vote to leave is not anti-immigration, it is a vote for sensible, fair, controlled immigration – just like any other non-EU country on the planet. Whether you agree with the current immigration policy of the UK or not, we should all agree that everyone regardless of race or nationality should be treated equally and EU nationals should be subject to the same rules Americans, Australians and any other non-EU nationals have to face .
Trade and UK's Global Role: “A vote for ‘leave’ is a vote for isolationism and protectionism”
This again is not true. In fact, any high school economics student can easily point out that the European Union is a textbook example of economic protectionism. Not only do member states of the EU apply a common tariff to the rest of the world, they are prevented from negotiating their own free trade deals and are required to give up their seat at the World Trade Organisation. It is well established from economic theory that countries who participate in tariff style protectionism ultimately face high consumer prices relative to the global market price. Having voted to leave the EU, the UK is now free to negotiate free trade with the rest of the world and there is already movement for a free trade agreement with Canada, independent of the EU  – this gave rise to the pro-leave phrase: “We’re not leaving Europe, we’re rejoining the world”. Trade liberalisation ultimately means lower consumer prices and a more competitive economy due to global competition.
The UK Economy: “The leave vote has trashed the UK economy”
Most people will point to the fall in GBP or the FTSE and say the economy is in freefall. It is worth noting that on the evening of the 23rd of July pollsters, financial analysts and politicians were all expecting a remain vote i.e. the remain vote was priced into the market which meant a high volume of trades were long GBP and UK shares. When the leave votes started to come in, this came as a shock and traders around the world started selling UK assets to close their position. The effect of everyone hitting the sell button at the same time is a severe drop in price. It is interesting to note that the FTSE100 is exactly where it was 2 weeks ago. With regards to the pound, GBP/USD has been in a bear market since the third quarter of 2014 where it has lost 18% of value over that period. The bottom line is that nothing fundamental has changed in the UK economy and that the down turn is mainly due to uncertainty and volatility. People around the world have recognised this and are accumulating the Pound for their next holiday to Britain  – while imports to the UK may decrease, the silver lining is that the UK will now see a boost in tourism and its exports are now more competitive. Not all doom and gloom George Osborn would have you believe – where is he anyways? Didn’t he have an emergency Brexit budget?