Brexit 4

PRESENTATION OUTLINE FOR SEMINAR 2
let’s look at the overview of our presentation

we are going to begin with …..
there are 3 main point show that the benefits of UK when leaving EU
1. Economic arguments for Brexit and the prominent figures, evidence and
criticism of the arguments (Quỳnh)
Prominent Figures and Groups Presenting These Arguments

- Boris Johnson: Former UK Prime Minister who led the Leave campaign,
advocating for sovereignty and economic independence.
- Nigel Farage: Leader of the UK Independence Party (UKIP), a prominent
Eurosceptic figure who campaigned for Brexit primarily on immigration and
sovereignty grounds.
- Economists for Free Trade (EFT): A group of economists who argued that
Brexit would lead to economic benefits such as reduced regulation and
increased global trade opportunities
Argument 1: Sovereignty and Control
- Britain will not be constrained by rigid EU regulations, nor suffer
consequences from unrest and scandals in other member states. It will have the
autonomy to decide on all issues without the consent of the other 27 countries
- One of the fundamental arguments was that leaving the EU would restore full
sovereignty to the UK, allowing it to regain control over its laws, borders, and
trade policies. Proponents argued that this would enable the UK to make
decisions independently without being bound by EU regulations
Evidence for this argument
● European Court of Justice (ECJ): As a member of the EU, the UK is subject to

rulings from the ECJ, which interprets EU laws and treaties. Leaving the EU
would remove the obligation to adhere to ECJ decisions, giving the UK
judiciary full control over legal interpretations.
● Exiting the EU would allow the UK to repeal or amend laws that are currently
mandated by EU directives
Criticism: “Loss of Influence Critics” Critics argued that leaving the EU would
diminish the UK's influence on global regulatory standards and trade negotiations,
potentially leaving it in a weaker position compared to larger trading blocs like the EU
or the US.
b, Argument 2: Trade Opportunities
- Brexit supporters suggested that leaving the EU would allow the UK to
negotiate its own trade deals with countries outside the EU, potentially leading
to better trade agreements that suit the UK's interests more closely.
- They argued that the EU's trade deals might not always be in the best interest of
the UK economy.
Evidence:
- Customs and Trade: Outside the EU customs union, the UK would have the
autonomy to negotiate its own trade agreements with non-EU countries
- it is showed that there is a significant rise in the trading rate of uki to the world
in 2021, from 100 to 150
Criticism: Risk to Trade:

- Critics argued that leaving the EU single market and customs union would
disrupt existing trade relationships, leading to higher trade barriers, tariffs, and
increased costs for businesses, which could negatively impact the UK economy
Argument 3: Job Creation and Economic Growth

- Some proponents argued that Brexit would create opportunities for job creation
and stimulate economic growth, citing examples of countries outside the EU
that have prospered economically despite not being part of the EU
- The job competition for British citizens with immigrants will no longer be as
fierce as before.
- Britain will be seen as a safe haven to avoid financial risks in Europe, attracting
investment and boosting the value of the British pound significantly.
Evidence:
- Intriguingly, the vote for Brexit also led many UK-based job seekers to search
for work abroad, but beyond the borders of the EU
- In fact, searches from the UK to the rest of the world were 73% higher at their
peak on June 24th than the average in the days before the results of the
referendum were announced
Criticism: Potential Economic Contraction:
- Economic forecasts from institutions like the Bank of England and the
Treasury suggested that Brexit could lead to slower economic growth, reduced
GDP, and potential job losses, particularly in sectors heavily reliant on EU
trade.
- According to Economic forecasts from institutions like the Bank of England
and the Treasury
+ Lead to slower economic growth and Reduced GDP and potential job
losses, particularly in sectors heavily reliant on EU trade
I’m going to continue with the next part:
2. Economic arguments against Brexit and the prominent figures, evidence and
criticism of the arguments. (Nga)
a) Argument 1: Foreign investment - Brexit creates uncertainty that can
deter investors, potentially leading to a decrease in FDI and harming
economic growth.
Prominent Figure: Mark Carney, former Governor of the Bank of England, has
warned that Brexit could significantly impact foreign investment in the UK.
Evidence: Trends in inward FDI (Foreign Direct Investment) into the UK as a
percentage of GDP over the last decade are shown in the graph below. According to
the UK Parliament, in 2016, the value of the UK’s inward FDI was equal to 9.6% of
GDP. This has now fallen year-on-year since 2016 and was equal to -2.3% in 2021,
partly attributed to Brexit.
Criticism: However, critics contend that the UK can create a more business-friendly
environment outside the EU's regulatory framework, potentially attracting new types
of FDI.
b) Argument 2: Currency Fluctuations - Brexit has caused significant
volatility in the value of the British pound, leading to uncertainty for
businesses and consumers.
Prominent Figure: George Soros, financier and philanthropist, highlighted the risks
of currency fluctuations that caused by Brexit.
Evidence: Immediately following the 2016 vote, the pound dropped to its lowest level
against the US dollar in over 30 years, affecting import costs and inflation.
Criticism: On the other hand, many people argue that currency fluctuations are a
natural part of economic adjustment and can have positive effects, such as making UK
exports more competitive.
c) Argument 3: Trade Barriers - Leaving the EU leads to higher costs for
businesses and consumers, and reducing the competitiveness of UK
products.
Prominent Figure: Tony Blair, former Prime Minister, has emphasized the risks of
increased trade barriers and their potential to harm the UK economy.
Evidence: The UK Office for National Statistics (ONS) reported a significant drop in
UK-EU trade following Brexit. In January 2021, UK goods exports to the EU fell by
40.7%, while imports from the EU fell by 28.8% .
Criticism: Critics argue that Brexit allows the UK to negotiate its own trade deals
globally, potentially opening new markets and reducing reliance on the EU.
d) Argument 4: Financial Services - Brexit may reduce London's
attractiveness as a global financial hub, leading to a potential loss of jobs
and economic activity to other financial centers in the EU.
Prominent Figure: Catherine McGuinness, Chair of the Policy and Resources
Committee at the City of London Corporation, has expressed concerns about the
impact of Brexit on the financial services sector.
Evidence: According to the data from the EY Financial Services Brexit Tracker, 43%
(95 out of 222) of Financial Services Firms have publicly stated they have moved or
plan to move some UK operations and/or staff from the UK to Europe, taking the total
number of job relocations since the EU Referendum to almost 7,600, up from 7,500 in
October 2020.
Criticism: Supporters suggest that London can maintain its status as a global financial
hub by creating new relationships and a more attractive regulatory environment.
3. Economic Issues for UK-EU Negotiations During Brexit (Chi)
As the UK leaves the EU, several key economic issues need to be negotiated:
● Trade Agreements: Establishing new trade deals to ensure tariff-free access to

each other's markets for goods and services.
● Customs Arrangements: Developing new customs procedures to manage the
movement of goods across borders, aiming to avoid delays and additional
costs.
● Financial Services: Negotiating access to the EU's financial markets for UK-
based financial institutions and addressing regulatory alignment.
● Immigration and Labor Mobility: Defining new immigration policies and the
rights of EU citizens in the UK and vice versa, impacting labor markets and
skills availability.
● Regulatory Standards: Agreeing on common or mutually recognized
regulatory standards to facilitate trade and cooperation.
● Fisheries: Determining access to fishing waters and quotas for fishing catches,
a contentious issue for coastal communities.
● Data Protection: Ensuring the UK meets EU data protection standards to
allow the free flow of data.
● Northern Ireland Border: Managing the unique challenges posed by the land
border between Northern Ireland (part of the UK) and the Republic of Ireland
(an EU member), ensuring it remains open while maintaining regulatory
checks.
● Dispute Resolution Mechanisms: Creating frameworks for resolving disputes
that arise from the new agreements.
● State Aid and Competition Rules: Aligning policies on government subsidies
and competition to maintain a level playing field.
-> These issues require careful negotiation to balance sovereignty, economic
stability, and cooperation.
4. How do the economic arguments display identity politics (claims made about
groups of people)? (Giang)
The economic arguments for Brexit often intersect with identity politics in several
ways:
1. National sovereignty:
Many pro-Brexit arguments emphasize regaining control over economic decisions,
framing it as a matter of British identity and independence from EU regulations.
They shared the view that EU institutions drained power from the UK parliament, and
exiting the EU would allow Britain to re-establish itself as a truly independent nation
with connections to the rest of the world. Leave voters often prioritized the ability
to control British laws and regulations independently over economic growth. This
desire for national sovereignty was a significant factor driving the Brexit vote, with
many Leave supporters valuing the symbolic importance of regaining control over
national affairs more than potential economic benefits
2. Immigration:
Pro:
- Brexit supporters often argue that reducing EU immigration would protect
British workers and wages, appealing to a sense of national identity and
prioritizing "native" workers. High levels of immigration from the EU put
pressure on public services and jobs, advocating for a points-based immigration
system to prioritize skilled workers and reduce overall numbers.
- They wanted to regain control over the UK’s borders to reduce the number of
immigrants, particularly from the EU. This matter is not only wanting a
substantial cut in immigration, but it is also tied to issues of reducing
dependency on EU regulation and regaining control over UK’s own law
3. Economic Sovereignty: Arguments for new trade deals outside the EU often invoke
Britain's historical identity as a global trading nation, separate from Europe.
- By arguing for econ sovereignty, Brexiters emphasize the ability to make
trade deals and set econ policies without EU’s interference, reducing the
dependency and financial contributions to the EU. This was tied to a broader
narrative of reclaiming control and ‘putting British people first’.
- In contrast, critics highlighted the economic benefits of being part of the EU,
such as access to the single market and the ability to attract investment. They
warned that leaving the EU could lead to economic uncertainty, job losses, and
a decline in living standards, affecting various identity groups differently.
4. Fisheries and agriculture: These sectors, while economically small, are often
portrayed as culturally significant, tying economic arguments to traditional British
identities and ways of life.
Fisheries:
- The UK fishing industry has long been portrayed as a symbol of national
sovereignty and control over British waters. This sentiment was heavily
leveraged during the Brexit campaign. For instance, promises of "taking back
control" of UK waters resonated deeply with many in the fishing communities,
who felt marginalized by the EU's Common Fisheries Policy
- Despite the economic benefits being relatively limited, the cultural and
symbolic importance of the fishing industry remains high. Many fishermen felt
betrayed post-Brexit, as the expected benefits did not fully materialize,
reflecting the strong emotional and cultural ties to the industry rather than
purely economic considerations
Agriculture:
- Agriculture, similar to fisheries, carries significant cultural weight in the UK.
Farmers were concerned about the future of subsidies and support post-Brexit,
which had been guaranteed under the EU's Common Agricultural Policy. The
uncertainty around future UK government support heightened the sense of
agriculture as a culturally significant sector at risk
- The portrayal of the British countryside and traditional farming methods in the
Brexit debate emphasized the cultural identity tied to agriculture. The potential
impact on rural communities and traditional ways of life was a significant
factor in garnering support for Brexit among farmers and rural populations
5. Identity and Economic Policy:
● Pro-Brexit Argument: The Leave campaign often framed economic policies

in terms of taking back control and making decisions that align with British
values and interests, appealing to a sense of national pride and identity.
● Anti-Brexit Argument: Remain supporters argued that the interconnectedness
with the EU allowed for shared prosperity and that economic policies should
reflect a more inclusive and cooperative approach that benefits all identity
groups within the UK.
These economic arguments often blend with notions of British exceptionalism,
nostalgia for past global influence, and a desire for perceived self-determination. This
mixture of economic and identity-based reasoning can make it difficult to separate
purely economic considerations from emotional or cultural factors in the Brexit
debate.
Phần 3 và 4 nên thảo luận trước khi trình bày nội dung chính là for and against

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PRESENTATION OUTLINE FOR SEMINAR 2

let’s look at the overview of our presentation

Prominent Figures and Groups Presenting These Arguments

● European Court of Justice (ECJ): As a member of the EU, the UK is subject to

Criticism: Risk to Trade:

Argument 3: Job Creation and Economic Growth

I’m going to continue with the next part:

3. Economic Issues for UK-EU Negotiations During Brexit (Chi)

● Trade Agreements: Establishing new trade deals to ensure tariff-free access to

5. Identity and Economic Policy:

● Pro-Brexit Argument: The Leave campaign often framed economic policies

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