The Political Economy Review 2017

will do everything in her power to stop terrorism from spreading, including enacting tougher anti-terror legislation and increasing the number of armed police on the ground in cities. Also, she has a clearly thought out Brexit strategy and will fight in order to get Britain the best deal. She will not allow Britain to be walked over during the negotiations. She is fighting for a hard Brexit meaning the single market will be left behind but she will be doing her best in order to replace it with a new trade deal either with the single market once more or with members of the commonwealth.

One of the reasons Britain voted for Brexit was so that the British border could be secured better, due to it being able to control its borders once more. Secondly, it was so that Britain wouldn't have to comply with EU legislation anymore. If Corbyn or anyone else replaced Theresa May as Prime Minister and went for a soft Brexit, then Britain wouldn't get what it originally wanted when it voted to leave the EU. There was a reason why Britain voted to leave and Theresa May wants to respect that and is fighting for what the people have voted for. This is why Theresa May should not resign as Prime Minister of Britain. Overall, I do not think Theresa May should resign as she is currently a strong leader and I believe that she will do the best for Britain during the Brexit negotiations. She has the current backing of high profile politicians such as Boris Johnson and Michael Gove, giving her strength and support in making the best and the correct decisions for Britain.



Leaving the Customs Union: Two Possible Scenarios

The Brexit negotiations recently began on June 19, 2017 and if there is no formal extension to the talks then the UK is set to leave the European Union on March 29, 2019. Theresa May, David Davis and the rest of the negotiations team now effectively hold the future of the UK economy in the palms of their hands with there being many potential effects and outcomes which would influence the lives of all British citizens. The Conservative government declared recently that the UK will not remain a member of the EU Single Market due to the fact that one condition of membership is the free movement of people and the current government has repeatedly stressed that it wishes to reduce immigration numbers down to the ‘tens of thousands’, a target which they have repeatedly fallen short of. The Single Market ensures the “four freedoms” which include free movement of goods, services, capital and labour across the EU, which has 500 million potential customers. Leaving the Single Market could have a detrimental effect on the economy as – according to the Office of National Statistics - £220bn of the £510bn made from UK exports is generated from trade with the EU which makes up a substantial 44% of total exports. In leaving the Single Market, there are two main likely scenarios: a Free Trade Agreement scenario (FTA) and a World Trade Organisation scenario (WTO). It is a possible that the UK could create a FTA with the EU as numerous other nations such as Mexico, South Korea and South Africa have done. This would involve tariff-


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