Brexit impact on Canada’s economy could be a ‘big deal’ : Dal economist
Posted Jun 23, 2016 05:48:08 AM.
Last Updated Jun 23, 2016 06:58:11 AM.
This article is more than 5 years old.
A Dalhousie economist says it would be better for Canada’s economy if Britain remains in the European Union bloc it joined 43-years ago.
A referendum vote is being held in the United Kingdom today, where voters will decide on whether or not Britain will leave the union.
Dr. Talan Iscan told NEWS 95.7 any change in the political climate creates anxiety and economic uncertainty.
“Most economies are fragile right now, the last thing we need at the moment is another source of uncertainty,” he said.
However, Iscan adds if Britain leaves, we may not feel the economic impact immediately as Canada’s trade deal with Europe is less significant compared to other trading partners, and there could be an upside.
“Canada may approach Britain as a stand-alone country and negotiate its own deals with them, without necessarily negotiating with the larger union in which we may have less bargaining power,” he explained.
More than 46-million Brits are registered to vote in today’s historic referendum, with results due early tomorrow.
“Leave” campaigners claim only a “Brexit” can restore power to Parliament and control immigration.
The “remain” campaign led by Prime Minister David Cameron argues that Britain is safer and richer inside the 28-nation EU.
