Significance of British EU Membership - Essay Example

Moreover, the crisis has even shifted the attention given to the British membership, as there are matters more important at hand. Decisively, the few people discussing the matter propose that by fully accepting the membership the results would be beneficial on a political and economic basis.

            In terms of business, the European Union is the core and most influential body in Europe with a budget of 129 billion euros every year (Miliband 2014). Nonetheless, the member states like Britain contribute to the factor of business power making the European Union more significant than any other country. The exit of Britain from the European Union would be a disadvantage as the state is among the few nations that have a great financial impact on its function; for instance, Britain contributes up to 55 million euros a day making it twenty billion euros every year (EU Business 2014 &O’Leary 2014). Furthermore, Britain is a lead investor- it is the hub of major business investments and there are others conducted across borders; largely, British membership also holds the fate of the United Kingdom on matters regulations applied in the single market.

            The EU directly benefits from the single market that Britain is a part of; however, other benefits are resulting from the state's membership (Western Morning News 2014). For instance, employed citizens of the European Union get the opportunity to train a variety of recruits with the British taking full advantage of this by providing employment opportunities to many citizens. Moreover, the trainees and recruits tackle the shortage of skills in the United Kingdom as a potential and determined workforce (Mansfield 2014).

            From a different point of view, the exit of membership would also be a shortcoming for Britain, as well as the European Union that holds the biggest part of the single market meaning the consumers in the member states get to enjoy offers and lower prices of goods and services. Moreover, the European Union majors in the manufacture of eco-friendly products (Lawlor 2014). The union also acts as a link to the leading markets of the world i.e., as a member state Britain gets to market their products in Mexico, China, India, or Indonesia (Gottfried 2014). Additionally, British membership is essential to the state itself as the EU takes half of its exports and conveys big trade contracts with other states assisting British corporations to get into the potential markets.