WHY BRITS MUST NOT SUPPORT BREXIT
Brexit is harmful for two reasons. The more prominent of which is economic.
Britain will be facing higher trade tariffs in their major export market, which is the EU. As well, in terms of imports, EU-origin products will be more expensive. The alternative in both case will be a return to the “normal” WTO international trade tariff structure that governs World Trade.
There is no reasoning that would justify any meaningful increase in trade with the EU (the largest whole-economy after the US) after Brexit. And Britain cannot expect the US to offset the loss of EU-trade.
Particularly badly hit will be London’s Financial Center, which (as a part of the EU) is/was highly effective and profitable. British banks are already looking for offices in the EU. Which is unfortunate for most of those who work there, but not for some key-personnel that will move over along with their offices.
Moreover, with lower levels of trade, Brexit could well mean a lowering of the pound vis-a-vis the Euro. This could help British incoming tourism, but Brits will pay more whilst visiting the EU. Lowering the pound generally boosts exports, and could well mean a boon for British exports if the rise in import duties does not cancel that effect. That wager is too close to call presently.