A National Decision Influenced By The People And Approved By Government Essay

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BREXIT. A national decision influenced by the people and approved by the government with the sincere desire to promote independence and to make this country great again. The consequence is yet unknown however the uproar of whether we are to be victorious or not has divided the country. Efforts are to be made throughout this essay to elaborate on key facts which have an impact on the UK and in doing so the households of the taxpayers. “The U.K. 's vote to leave the European Union has buffeted companies in Britain and beyond. Some have warned of earnings hits, possible headquarters moves, or cost cuts linked to the referendum, while others have put deals on hold.” Ref 1 (unknown. 2016) This headline portrays the unpredictability of Brexit as the pros and cons vary but it’s as if a domino effect is in play. Startled by the record low drop of the GBP by up to 10%-15% resulted in imports being costlier and exports decreasing in value, causing inflation. However, that wasn’t the only increase on the horizon as mortgage and interest rates could also go up. The increase of mortgage cost was in the region of 0.7% to 1.1% resulting in a calculated £1,000 rise in mortgage payments per annum. For individuals who are of rented accommodations, as the costs for the landlord increase so would the rental agreement price. Another predicted study shows interest rates being cut due to a period of low growth leading to the borrowing cost decreasing. It is not clear what the likelihood is
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