Why the UK Remains Pro-Brexit Despite Negative Consequences

Four years after the United Kingdom left the European Union, many citizens remain supporters of Brexit. This article explores the reasons behind this stance, including the UK's continued economic growth, its robust defense capabilities, and the advantages of maintaining control over its financial and energy sectors.

The UK's Economic Performance

Despite the negative perceptions lingering post-Brexit, the UK has shown resilient economic growth. In the first quarter of 2024, the UK was the fastest-growing economy among the G7 countries, according to the most recent figures. This performance can be attributed to a series of factors:

Underlying Contraction in Real Money Supply: The contraction in the real money supply has been a significant factor. The European Central Bank's cessation of QE bond purchases has lifted the 'Club Med debt shield,' exposing long-standing monetary union issues. The monetary union's vulnerabilities are now more apparent, given the ECB's substantial holdings of non-performing bonds, including company debts. EU's Inability to Control Key Resources: The EU's attempts to control Norway and the UK's gas and oil reserves failed. The UK, which has robust resources, has maintained full control over these critical assets, ensuring energy independence and reducing dependency on unreliable suppliers. Financial Independence: The UK has regained control over its business banking and stock-markets, which are now ranked number one in Europe. This independence provides a robust foundation for the economy, allowing for better market conditions and financial stability. Growth in the Second Quarter: The latest GDP growth figures for the second quarter show that the UK outperformed the EU, with growth figures more than double that of the European Union.

The UK's Defense Capabilities

The UK is a formidable military power, investing in state-of-the-art defense capabilities such as new ships, planes, tanks, and armored vehicles. A significant portion of the older, unusable military equipment has been reallocated to Ukraine, where it has proven invaluable. This support to Ukraine demonstrates the UK's commitment to maintaining peace and stability, further solidifying its national identity and defense credentials.

Advantages of Maintaining Control

While the EU has always sought control over key financial and energy resources, the UK's pro-Brexit stance ensures it retains these advantageous positions. Being outside the EU has allowed the UK to:

Control Over Financial Markets: The London business and financial markets continue to be among the top in the world, providing a robust framework for international economic transactions. Energy Independence: The UK's control over its natural resources, such as gas and oil, ensures energy security and sovereignty, reducing vulnerability to external economic pressures. Political Autonomy: The UK's ability to dictate its own policies and relationships means it can align with global partners based on mutual interests, not just EU interests.

The Recent European Parliamentary Election and Brexit's Future

The recent European Parliamentary election has introduced significant shifts, particularly among nationalist political parties. This trend may lead to new debates about the EU's future, especially in France, Italy, and the Netherlands. As these countries grapple with the EU's internal issues, such as the aforementioned fraud scandals, the possibility of further exits from the EU could become a pragmatic solution.

Conclusion

The reasons for continued pro-Brexit sentiment in the UK are multifaceted. From economic growth to defense capabilities and political autonomy, the UK stands firm in its decision to leave the EU. While the path ahead presents challenges, the UK's stance is underpinned by a strong economy, robust defense, and control over critical resources.