After the Conservative Party’s victory in
the general election, it now looks likely that David Cameron will follow
through on his promise to hold an in/out referendum on the UK’s
membership of the European Union by the end of 2017. Although Cameron
himself would prefer the UK to remain a member, there is now a serious
possibility of ‘Brexit’, particularly given the rise of UKIP and a
general disillusionment with the EU among many voters across the
political spectrum. Euroscepticism has re-emerged on the left, too, with
the likes of Jeremy Corbyn and Owen Jones calling for the UK to leave
the EU.
Business leaders have frequently warned of economic catastrophe if
the UK leaves the EU. One much-quoted estimate is that between three and
four million jobs depend on trade with the EU, though the claim that
these jobs would all be in jeopardy if the UK left is controversial. The
UK would likely continue to have free trade with the remaining members
of the EU. But the economic issues run much wider than trade. Brexit
could have significant implications for inward investment, the role of
the City of London as a global financial centre, UK influence on the
rules and regulations of a block that would remain a major trading
partner, as well as agricultural support, free movement of workers, and
so on.
But perhaps it would be wrong to see the question of EU membership in
narrowly economic terms. There is much concern that the EU now
determines large areas of UK law, while lacking the accountability to
voters that national parliaments have. The travails of the Eurozone have
dampened enthusiasm in many quarters for the long-term project of
‘ever-closer union’. Some see the possibility of Brexit not as a
rejection of Europe but as an opportunity to rethink our relationship
with other EU member states.
Is the EU reformable, or are its current ways of working too
entrenched? Would an independent UK be able to survive and thrive
outside the EU? Is Europe as we know it already doomed, or has it proven
itself capable of weathering the crisis?
Recorded at the Battle of Ideas 2015
Speakers
Kishwer Falkner
Baroness Falkner of Margravine; chair, House of Lords EU Financial Affairs Sub-Committee; member, EU Select Committee
Thomas Kielinger
UK correspondent, Die Welt
Matthew Kirk
group external affairs director, Vodafone
Philippe Legrain
visiting senior fellow, LSE’s European Institute; author, Immigrants: your country needs them and European Spring: Why Our Economies and Politics are in a Mess – and How to Put Them Right
Phil Mullan
economist; director, Epping Consulting business advice; author, The Imaginary Time Bomb
Chair
Peter Lloyd
consultant, financial markets research; campaigner, Manifesto Club; writer, Free Society
