Scotland seeks split from UK over Brexit

• The British Parliament has passed a bill that will allow Prime Minister to start talks to leave the European Union.
• The Queen will now sign it into law, clearing the way for Prime minister to trigger Article 50, beginning the process by which Britain will give up its EU membership.
• However, The First Minister of Scotland, Nicola Sturgeon wants Scotland a referendum post-Brexit so voters can make “an informed choice” regarding independence. Scotland rejected independence in 2014 referendum. In the Brexit vote, Scots strongly backed staying in the EU.

Analysis(About Breexit):

• Leaving the EU would result in an immediate cost saving, as the country would no longer contribute to the EU budget.
• Under EU law, Britain cannot prevent anyone from another member state coming to live in the country – while Britons benefit from an equivalent right to live and work anywhere else in the UK. The result has been a huge increase in immigration into Britain, particularly from eastern and southern Europe. There is a fear that this open border might lead to the terrorism. A drop in immigration would means more jobs for the people who are living in Britain.
• By leaving the EU will allow Britain to re-establish itself as a truly independent nation with connections to the rest of the world. To Inners, Brexit would result in the country giving up its influence in Europe, turning back the clock and retreating from the global power networks of the 21st century.
• EU has imposes punitive tariffs and regulatory barriers on goods and services produced outside its 28 member states. Quitting the bloc would allow the U.K. to trade with the rest of the world under rules set by the World Trade Organization, enabling the U.K. to unilaterally lower trade barriers.
• Britain risks losing some of that negotiating power in term of business by leaving the EU, but it would be free to establish its own trade agreements. Some argue that it would be in the interests of other European countries to re-establish free trade. UK's status as one of the world's biggest financial centres will be diminished if it is no longer seen as a gateway to the EU for the likes of US banks.
• Britain exit from European union which is one of the EU's most powerful economies would hit its finances and boost populist anti-EU movements in other countries. This would open a "Pandora's box" and could lead to the "collapse of the European project"
• The EU is a single market in which no tariffs are imposed on imports and exports between member states. More than 50 per cent of our exports go to EU countries and British membership allows it to have a say over how trading rules are drawn up. Britain also benefits from trade deals between the EU and other world powers. The EU is currently negotiating with the US to create the world's biggest free trade area something that will be highly beneficial to British business. This is done because Britain is the member of European union.

By: Vishal