The UK is abuzz with the EU referendum, what does it mean?

CHELMSFORD, U.K. - May 24, 2016 - PRLog -- There's talk about the EU referendum wherever you go, in the pubs, inns restaurants, gaming centres, and practically all public places. What does the EU referendum actually mean?

So, what's happening out there?

The upcoming referendum next month, 23 June to be precise is to make a decision on whether Britain should continue in the European Union or exit. Here are a few questions and answers that are bugging most of the people.

Firstly, what exactly is a referendum?

The Oxford dictionary defines referendum as "A general vote by the electorate on a single political question which has been referred to them for a direct".  In other words, referendum is a vote, where all eligible voters can participate to answer "Yes" or "No". Whichever answer is in the majority, will be the winner of the referendum.

Why hold a referendum for this?

One good reason is that the Prime Minister David Cameron gave his solemn word that he would hold a referendum if he won the 2015 general election. Moreover, there are increasing murmurs from Conservative MPs, and members of the UK Independence Party (UKIP) who are not very happy with the fact that Britain hasn't had a say since 1975, when, contrarily the vote in the then referendum was to stay in the EU.

What is meant by the European Union?
You've often heard people quote European Union or EU, what it actually denotes is the economic and political partnership of 28 countries  in Europe. The EU was formed after the World War II with the aim of better economic cooperation among the member countries and keep them away from waging war against each other.

Who is eligible to vote?

All British, Irish and Commonwealth over 18 can vote, though they need to be resident in the UK, as well as UK nationals living overseas with their names registered in the electoral register for the past 15 years. Members of the House of Lords and Commonwealth citizens of Gibraltar, who cannot vote in the general elections, can vote for this referendum. Citizens from EU countries - besides Ireland, Malta and Cyprus don't get to vote.

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How does one vote?

It'll be just as it is during any general election. If you are already registered as a voter, you'll get card that tells you when voting will take place, and where you should go in order to vote on 23 June. On the D day, while you are at the polling station, you'll be handed a piece of paper with the referendum question. You'll then step into the booth and uses the pencil kept there to mark an X on the box reflecting your choice, fold the paper and drop it into the ballot box. You can also cast your vote by post; land here's the complete guide on how to vote by post.

David Cameron did try to change the rules of UK's EU membership

David Cameron did push his weight and tried to influence the EU leaders to change the terms of Britain's EU membership. In case the UK decides to vote to stay in the EU, there's this deal that will give the UK special status in the 28 nation club.

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The Highlights of the Deal

1. Child benefit

2. The Pound remains the same

3. City of London shall be protected

How many want the UK to leave the EU?

As per opinion polls almost half the population is in favour of leaving the EU, while the other half want the UK to be part of EU. The UK Independence Party wants the UK to exit, and so do half the Conservative MPs, including a few ministers and Labour MPs.

Why leave the EU?

Most of the people supporting the idea of Britain leaving the EUfeel the charges levied as membership fees are astronomical for the piddling stuff they get in return. What's worse is the number of rules hampering the business prospects of Britons.

What about those who want Britain to remain in the EU?

The British Prime Minister wants that Britain should continue in the EU, maybe because he has regained some powers. Sixteen of his cabinet members are also of the same view and want Britain to continue as a member of the EU. The Conservative Party though proposes to remain neutral throughout. However, the Labour Party, SNP, Plaid Cymru and the Lib Dems all still want Britain to be part of the EU.

Is it good for Britain to continue or quit?

That's what the referendum is all about. However, the crux of the matter is how one looks at it, although deciding to step out of the EU would be a major step. This referendum seems to be creating more interest than the general elections and could have far reaching repercussions. Will deciding to quit leave Britain better off or will it spell economic doom. Here's a hot debate on the pros and cons.

What do the businesses think?

Most of the big businesses are in favour of Britain continuing to be a part of the EU because it is good for the business and facilitates easier movement of people, products and money. Though some big businessmen like Lord Bamford, chairman of JCB is of the view that being part of 28 nations is not a big deal. He is in favour of Britain exiting from the EU. More than half of the members of the British Chambers of Commerce would like Britain to continue in the EU, though some reforms at the EU would be welcome.