This legislation is found in Article 101 and 102 of the Treaty on the Functioning of the European Union and aims to allow all businesses to do business across the EU whilst limiting monopolies and cartels . Part of being situated in the UK is because of the links with the EU and if they lost these benefits (if the UK left the EU) that they would have to relocate to somewhere that was in the EU. This is called Foreign Direct Investment and in 2009 the UK was the 5th largest recipient of this with there being about £1.125 trillion FDI stock . The free trade policy means that there are no tariffs or quotas placed on companies exporting goods or services within the EU which makes it a lot easier for business to do trade between the many economies and countries. In the year to March 2015, the UK sold £144.5 billion exports of good to the UK and bought £223.7 billion worth of imports into the UK . As a nation the UK does a huge amount of trade with the EU which therefore leads to this policy saving the UK a lot of money. Tariffs and quotas are not only expensive in themselves, they ensure that the products cost more for the consumer. This forces many people to buy cheaper, yet similar, alternatives. Additionally this is enforced by the common commercial policy which are the rules that place tariffs, quotas or subsides on imports from outside of the Eurozone which tries to encourage people to buy the good from inside the EU if they live within the EU . For example the budget airline, EasyJet, recently said to UK Government officials that ‘its entire business is only possible because EU countries agree to apply common rules to companies operating across borders’
This legislation is found in Article 101 and 102 of the Treaty on the Functioning of the European Union and aims to allow all businesses to do business across the EU whilst limiting monopolies and cartels . Part of being situated in the UK is because of the links with the EU and if they lost these benefits (if the UK left the EU) that they would have to relocate to somewhere that was in the EU. This is called Foreign Direct Investment and in 2009 the UK was the 5th largest recipient of this with there being about £1.125 trillion FDI stock . The free trade policy means that there are no tariffs or quotas placed on companies exporting goods or services within the EU which makes it a lot easier for business to do trade between the many economies and countries. In the year to March 2015, the UK sold £144.5 billion exports of good to the UK and bought £223.7 billion worth of imports into the UK . As a nation the UK does a huge amount of trade with the EU which therefore leads to this policy saving the UK a lot of money. Tariffs and quotas are not only expensive in themselves, they ensure that the products cost more for the consumer. This forces many people to buy cheaper, yet similar, alternatives. Additionally this is enforced by the common commercial policy which are the rules that place tariffs, quotas or subsides on imports from outside of the Eurozone which tries to encourage people to buy the good from inside the EU if they live within the EU . For example the budget airline, EasyJet, recently said to UK Government officials that ‘its entire business is only possible because EU countries agree to apply common rules to companies operating across borders’