ON PREVENTING THE DISASTER OF BREXIT DISCUSSION 2022

Running head: ON PREVENTING THE DISASTER OF BREXIT
On Preventing the Disaster of Brexit
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ON PREVENTING THE DISASTER OF BREXIT1
My Lord Chancellor, Mr. Speaker, Mr. Prime Minister, my Lords, and Members of the House
of Commons:
We almost stand on the precipice leading to a complete disaster and ruin not just for
Great Britain, but also for her people. Our association with the European Union since its
founding four decades ago has been one of benefit, our unity with the nations of Continental
Europe is the bedrock upon which peace has been maintained even in the face of the looming
crises. I ask, how can we afford to jeopardise such a beneficial relationship?
The decision to walk out of the European Union will have dire consequences, and
these consequences shall harm Britain. You all might be aware of how back in 2016, many
economists predicted that any attempt to go out of the European Union would cause a
decrease in our country’s per capita income. Besides the visible short-term impacts of Brexit,
we would have to contend with medium and long-term effects arising from such a step. In
fact, according to the government’s analysis that was leaked to the public, Colantone and
Stanig (2018) deduced that there would be a probable decline in the British economy at a rate
of between 2% and 2.8%, lest we go ahead with Brexit.
The Prime Minister insists that we initiate steps to disassociate from the European
Union by October 31st; however, doing so would cause grievous hurt to the rate of
employment we have continued to enjoy, thanks to job losses. Specific sectors like
manufacturing and nursing would be the hardest hit, as these jobs heavily rely upon the
economic and trading agreements we have with the EU. Therefore, we must take caution
before commencing any policy regarding Brexit if we wish to preserve employment.
As I have mentioned, we have signed favourable trade agreements with the European
Union. If we are so determined to leave the EU, let me remind you that in doing so, the
member-states of the Union would not adopt a friendly approach to re-negotiating new trade