Brexit: What you need to know about the UK leaving the EU (2024)

FAQs

What are the good things about the UK leaving the EU? ›

There are a great many benefits to Brexit: control of our democracy, borders and waters; control of our own money, helping us to level up across the country; the freedom to regulate in a more proportionate and agile way that works for our great British businesses; benefits for people that put money back in their ...

Factors included sovereignty, immigration, the economy and anti-establishment politics, amongst various other influences. The result of the referendum was that 51.8% of the votes were in favour of leaving the European Union.

After Brexit, the EU becomes UK's biggest trading partner, and the UK becomes EU's third biggest trading partner after the United States and China. Some member states, notably Belgium, Cyprus, Ireland, Germany and the Netherlands, are more exposed to a Brexit-induced economic shock.

What will happen after we leave the EU? The European Communities Act will be repealed on the day we leave the EU – meaning that the authority of EU law in the UK will end. We will convert the body of existing EU law into domestic law and then Parliament will be free to amend, repeal and improve any law it chooses.

Drawbacks of Brexit

As an entity, the EU exerts stronger bargaining power as it is the largest economy as a group. Therefore, by leaving, the UK would lose negotiating power and free trade with other European countries. As the UK tries to recreate trade deals with other countries, they may get less favorable results.

The average Briton was nearly £2,000 worse off in 2023, while the average Londoner was nearly £3,400 worse off last year as a result of Brexit, the report reveals.* It also calculates that there are nearly two million fewer jobs overall in the UK due to Brexit – with almost 300,000 fewer jobs in the capital alone.

A new opinion poll has found that most British voters see leaving the EU as a huge failure for the country, especially around broken promises on NHS funding. A significant majority of British people believe the country's decision to leave the European Union has been bad for the UK.

Share of people who think Brexit was the right or wrong decision 2020-2024. As of May 2024, 55 percent of people in Great Britain thought that it was wrong to leave the European Union, compared with 31 percent who thought it was the right decision.

The referendum resulted in 51.9% of the votes cast being in favour of leaving the EU, triggering calls to begin the process of the country's withdrawal from the EU commonly termed "Brexit". Should the United Kingdom remain a member of the European Union or leave the European Union?

A 2022 study from research firm Resolution Foundation found that Brexit had reduced the openness and competitiveness of the British economy. On January 11, 2024, the London Mayor's Office released the "Mayor highlights Brexit damage to London economy".

Does the EU want the UK back? ›

With rejoining an unlikely prospect in the near future, the EU and its member states are instead focused on closer cooperation with the UK. What closer cooperation looks like depends not only on the results of the UK general election, but also what happens in the European Parliament elections in June.

Polls found that the main reasons people voted Leave were "the principle that decisions about the UK should be taken in the UK", and that leaving "offered the best chance for the UK to regain control over immigration and its own borders."

EU membership means you and your family have the right to live, work or study abroad in any of the 27 other member countries. It also guarantees many employment rights. The UK is a strong, independent nation. Our EU membership magnifies the UK's ability to get its way on the issues we care about.

The benefits were much greater than the costs, probably by a ratio of about 6 to 1. The UK benefited from lower trade costs and higher volumes of trade with other member countries and this raised productivity.

Higher quality of life elsewhere including lower costs of living, easier access to healthcare and education. Political instability or dissatisfaction with the UK government's actions and policies. To move closer to family. Preferable climate or natural environment elsewhere.

The European Union gives Britain a larger home market for its businesses, provides a boost to the economy and magnifies our influence on the global stage. Britain is stronger economically because it stands alongside its neighbours in the single market as part of the European Union.

As an EU national, you have the right to live and move within the EU without being discriminated against on the grounds of nationality. You can also benefit from greater consumer protection than in your home country and, provided you meet certain requirements, can access healthcare anywhere in the EU.