Fill in the Blanks BREXIT AND THE ECONOMYOnline version Description of the economical consequences that Britain could face if they left the European Union. by Marita Matesanz 1 EU deals important economy decide could negotiate Britain Norway exports income investment Unfortunately - People are saying that Britain's will suffer if we vote to leave the European Union , but is that really true ? - Well , the European Union is Britain's most trade partner . It buys 44% of our exports and supplies more than half of our imports . - So leaving would hurt us . . . - Well , yes , I mean , our to the EU are worth 13% of GDP . - Couldn't we vote to leave the but keep free access to their market ? Isn't that what Norway does ? - Well , we could copy Norway but there will be strings attached . - What strings ? - Norway has to submit to Brussel's regulations . has to keep its borders open to people from the European Union . - I see . - And Norway has to pay for its deal with the EU . - Contribute to the budget without being a member , that sounds like taxation without representation . - I suppose you call in that . - What about Switzerland or even Canada ? I've heard Boris talking about that . Couldn't we follow what they do ? - Switzerland and Canada have done with the EU , but they don't get special access to the market for financial services which are an important British export . - But we would still be a member of the World Trade Organization . Wouldn't that protect our right to sell stuff to Europe ? - , the WTO doesn't do much to protect free trade for services , which account for 70% of our economy . - But couldn't Britain a better deal than Norway's or Switzerland's ? After all , the EU would be desperate to do a deal with us . It sells more to us than we sell to them . - Actually , we would be the desperate ones . They export more to us but they are bigger so their exports to us account for only 3% of their national , meanwhile our exports to the EU are worth 13% of our national income . - So , bottom line , what would happen to our economy if we voted to leave the EU ? - We would trade less and we would attract less foreign since we could no longer promise hassle - free access to the EU . - So should stay in the European Union ? - It's your vote . You . This videographic is sponsored by InFacts . org , a journalistic enterprise , making the fact - based case for Britain to stay in the EU . For more InFacts , go to InFacts . or g
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