There is a lot of talk about the impending Brexit and what it could mean for both the UK and the EU. But what is the difference between a hard Brexit and a soft Brexit? And which one is better for the UK? Here we explore the differences between these two types of Brexits, and how they could impact you.
What is a Hard Brexit?
Hard Brexit is the potential withdrawal of the United Kingdom from the European Union following the country’s referendum to leave the bloc.
- The term is often used interchangeably with a “clean Brexit,” meaning a withdrawal from the EU without any future relationship or trade deal in place.
- Hard Brexit would likely include leaving the EU’s single market and customs union, which could result in widespread tariffs and other trade barriers between the UK and its neighbors.
- It could also mean a loss of access to EU funding for research, agriculture, and other programs. Hard Brexit would be a major change for the UK, and it remains to be seen what effect it would have on the economy and society.
What is Soft Brexit?
Soft Brexit is a term used to describe the UK’s withdrawal from the European Union (EU) under terms that would maintain close economic ties. The goal of a Soft Brexit would be to minimize the economic disruption caused by the UK’s departure from the EU.
- One way to achieve a Soft Brexit would be for the UK to remain part of the European Single Market. This would allow British businesses to continue to trade freely with other European countries, and it would also allow British citizens to live and work in other EU member states.
- Another option would be for the UK to negotiate a comprehensive free trade agreement with the EU. This would provide British businesses with tariff-free access to the European market, while also giving the UK control over its own immigration policy.
- Whatever approach is taken, a Soft Brexit would likely involve some level of cooperation between the UK and the EU in order to minimize the economic impact of Britain’s withdrawal.
Difference between a Hard Brexit and Soft Brexit
Hard Brexit and Soft Brexit sound very similar, but there are some important differences between the two terms. Hard Brexit refers to the UK leaving the European Union with no trade deals or agreements in place.
- This would mean that tariffs would be placed on goods imported and exported between the UK and EU, which would likely lead to higher prices for consumers.
- Soft Brexit, on the other hand, would involve the UK negotiating a trade deal with the EU before leaving. This would result in fewer trade barriers and may help to keep prices down for consumers.
- The type of Brexit that ultimately happens will have a big impact on businesses and individuals in the UK, so it’s important to understand the difference between these two terms.
The short answer is that a hard Brexit is more severe, while a soft Brexit is less severe. A hard Brexit would involve the UK completely severing ties with the EU, while a soft Brexit would involve retaining some degree of membership in the EU. There are pros and cons to both options, which we will explore in more detail below.