On Friday, the UK voted in a nation-changing referendum in favour of leaving the European Union, causing global market panic and forcing the resignation of Prime Minister David Cameron.

South Wales Public Affairs & Political Advisor and former Launceston student Mark Wells said contrary to popular belief, a Brexit would not damage Australian free trade agreements, international security and long-term share markets. 

“The media have been fantastic in reporting that the pound hit a 30-year low, I defy you to find a mainstream newspaper that said by the end of the day it had recovered to be only 3.5 per cent down,” Mr Wells said.

Fairfax Media reported on Friday that defence and foreign affairs experts warned that Britain’s exit from the EU would distract the country from reliable security, fragment the West and embolden Russia. 

Mr Wells dispelled these claims by noting the UK had one of the five permanent seats on the United Nations Security Council and a strong position in NATO. 

The federal government is also currently negotiating a European Free Trade agreement, and political pundits have highlighted that 48 per cent of Australia’s exports in services to the EU in 2014 were through the UK.

“If they [the federal government] think it’s not worth going ahead, that’s a decision for Australia, it’s not something Britain can be held responsible for,” Mr Wells said.

He argued the volatility in the Australian markets were not due to Brexit alone, but rather uncertainty surrounding a looming election.

Mr Wells said Britain had lost control over its borders leading to an oversupply of unskilled workers, and consequences for Commonwealth jobs.