There are both positive and negative implications, and the European Union unequivocally is not, what others may perceive, as a utopia. It is far from it. The business and trade links (including the influx of economic migrants) Britain has achieved as a result of this relationship, has been advantageous but has also brought many flaws nonetheless. Lets take a much discussed topic- immigration, which, although has brought many economic benefits, has provoked conflicts and contentiousness among the locals, especially among the British working class. There is more to a country then its economy.
The notion of 'freedom of movement' prevents the government to have full control over its borders. Anyone from the EU can come, live and work in Britain. The LibLabCon's will have no power over this, regardless of how persuasive Cameron and Milliband may appear to be.
No one can deny the many benefits the EU has provided us, yet the 'dark side' can not go unnoticed, especially with the introduction of two countries which are a lot less economically stable- Bulgaria and Romania. The conservatives tend to be oblivious and blinded by its advantages, and refuse to acknowledge the damage mass migration can potentially cause. Britain really needs to re-evaluate its relationship with Europe. For a country to be truly independent, it will need to have to ability to implement its own rules, such as operating a 'cap' on EU migration numbers, which currently, can not even be politically debated about. The only party that holds this political stance is UKIP, yet leaving the EU completely will also bring its uncertainties. Britain may even lose out from taking such a risk, where it may see the back of many high skilled migrants, employers and a disintegration of trade unions.