The economic effects of Brexit were a major area of debate during and after the referendum on UK membership of the European Union. There is a broad consensus among economists that Brexit will likely reduce the real per-capita income level in the UK. Supporters for remaining in the EU, including the UK treasury, argue that being in the EU has a strong positive effect on trade. Supporters for withdrawal from the EU have argued that the cessation of net contributions to the EU would allow for some cuts to taxes or increase in government spending.