To secure better E.U. economic arrangements, Jeremy Corbyn encourages Labour legislators to back a second referendum on Brexit.

Olivia London

2019-06-17 11:25:00 Mon ET

To secure better economic arrangements with European Union, Jeremy Corbyn encourages Labour legislators to back a second referendum on Brexit. In recent times, Theresa May has indicated her intention to resign as British Prime Minister, and the European election results shine light on a second referendum on Brexit. Nigel Farage, his Brexit Party, and Conservative Brexit supporters are likely to fight hard against Corbyn-led Labour legislators.

Labour Party now has a strategic advantage if Corbyn and his fellow MPs pivot in favor of a second Brexit referendum. As the European Union remains the largest trade bloc to Britain, Britons must reconsider the economic pros and cons of closer trade ties with the Eurozone. The Brexit withdrawal agreement may involve a gross amount of €100 billion. Net of some U.K. assets, the final bill would involve about €65 billion. The key withdrawal transfer funds can contribute to better British health care, welfare, infrastructure, taxation, and other aspects of public finance. However, Britons primarily use the British pound but not the Euro, thereby the U.K. has never been part of the E.U. monetary union. Many British millennials prefer to remain in the E.U. for closer trade ties and better economic arrangements.

 


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