Do UK firms benefit overall from membership of the EU?

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Do UK firms benefit overall from membership of the EU?

Mark Ratcliffe

Year 11

Introduction

The European Union is a coming together of 15 member states aiming towards a brighter future. One goal of this union is to thrive in trade and commerce and to do this measures were taken to make it easier for firms and businesses in Europe to expand and flourish. In the following paragraphs I will explain the benefits and problems for firms who are part of this organisation.

Benefits

When the European Union came together rules and regulations were decided and agreed upon between all of the states involved. One of these rules, the legal minimum wage has been set throughout all EU states so that now no firm in any EU country can pay their worker(s) less than the amount agreed. This not only induces fairness among all EU states but gives no country any advantages or disadvantages over another country so that all will be on a fair level with each other.
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Another of these rules concerns the flow of goods from countries inside the EU to countries outside of the EU. Before we entered the EU Britain was allowed certain agreements with other countrys, if for example we agreed a deal with Japan, where by any goods that were imported or exported to our country we would forget about the tariffs and taxes that had to paid on those goods and vice versa then this was OK. When we entered the EU any special agreements we had with other countries had to be stopped and so the prices of ...

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