How The United Kingdom ( Uk ) Could Exit The European Union ( Eu ) Essay

With reference to organisations or industries that you know, to what extent do you think that recent changes in the UK economy will have inevitably damaged the long-term profits of businesses that operate in this country? (40 marks)

The issue of whether or not the United Kingdom should remain a member of the European Union has been debated heavily over the past decade, with the debate heating up even more from the current European Sovereign Debt Crisis. Recent polls of the UK population showed that around half of the UK’s citizens would vote to pull out of the EU if it went to referendum. However, after all of the economic, political, and social advantages of being a member of the EU are considered, it remains clear that leaving the EU is not in the UK’s best interest. Economically, it does not make sense for the UK

The decision of the United Kingdom to leave the European Union has served in reshaping the way politics works in Europe. On June 3rd, 2016 a massive 30 million people came out to vote on the future of their countries. In the end, the vote to leave won 51.9% to 48.1%. Places like England and Wales both voted in favor of the exit, while Scotland and Northern Ireland voted overwhelmingly to stay in. While the long term effects of this decision obviously need time to be observed, the immediate economic impact has been somewhat mixed. The day after the vote was a cause for concern in that “the pound slumped after the referendum - and remains around 10% lower against the dollar and 15% down against the euro” (Wheeler 17). In contrast to this,

Although the British voted for leaving European Union, Brexit would adversely affect the British economy in the fields of trading and foreign direct investment.

4). Under the optimistic scenario the UK will have to pay the EU to remain a part of the EU’s single market, resulting in an increased cost to trade, while under the pessimistic the cost of trade for Britain will increase due to tariffs and increased regulations to get their product into the market. These increased tariffs, and the costs needed to meet regulations hurt the suppliers of goods resulting in a slowdown in the flow of goods and a reduced GDP. Dhingra et. al. uses the estimations of the two scenarios to show a direct correlation between leaving the UK leaving the EU and detrimental impacts to the UK’s economy, and as such the flow of goods.

The decision by the United Kingdom to leave the European Union this last June will surely be a pivotal moment in political history. It was both a rejection of the EU and in some ways the broader global community. The result of this referendum seems to be striking for two particular reasons. First, few observers of politics – casual and professionals alike – did not seriously anticipate the success of the leave campaign. While only anecdotal, my colleagues and I were in the United Kingdom about a week in advance of the vote, and the consensus seemed to be that there would be a remain victory – albeit small. Late into the early morning hours of June 24th we realized that the conventional wisdom was no longer conventional. Secondly, it was unexpected because of the insidiousness of exclusionary and sometimes outright racist rhetoric that the Leave campaign espoused. That is not to say that all those who supported the leave campaign are racists – but there is an undeniable motivation of xenophobia also behind some actors regarding the desire to turn inwards.

The news article the Economist reveals that Brexit[1] triggers a round of reshoring[2].The article described the situation of an entrepreneur Nimisha Raja started a healthy fruit snack business right when Britain voted to leave the EU. Her business model assumed that she could have boundless access to relatively lower price fruit in Europe and only used apple from Britain. Yet this is not possible due to a depreciation in the pound after the result of Brexit was released, which increased her cost and thereby has to shift her focus from bringing her offshore ingredient market back to Britain. She used to buy 20% of ingredients from Britain and it has risen to 70%. The article mentioned that this is also happening to various industries, like car-making and household manufacturing industries. Yet reshoring also works both ways as it mentioned almost half of the European businesses are expecting to reduce their British supplies due to higher cost from Brexit. This article shows that reshoring has both gains and losses in Britain, but requires a deeper understanding of class materials to analyze how Brexit brings benefits and costs to the country and how it affects the relationship between Britain and the mainland Europe.

In this essay, I will argue that Brexit might help the UK to improve as the newly-obtained freedom after Brexit will give the government opportunity to drive the country according to its vision and goals. First, it can establish laws and regulations that are advantageous for them. Second, they will be able to cut down on their budget spending. Third, their economy might prosper by leaving the financially critical

To understand the existence of Brexit in the first place, we need to clarify the economic background and position of the

The decision by the United Kingdom to leave the European Union in last week’s referendum has produced a plethora of predictions about possible outcomes. Much will depend on the way exit negotiations are discussed and, therefore, the ensuing parting terms. The bulk of the analysis has been about the consequences for the UK economy, including the potential breakup of the Union via a second Scottish referendum. There are, however, potentially bigger global consequences stemming from last Thursday’s vote. Firstly, there is the political fallout due to the now fractured nexus between politicians and their electorate. The result partly reflects the skewed distribution of benefits of the

Regulations are a concern because the UK’s departure could lead to change in banking regulations (Jackson, 2016). London is known as a huge financial center. With the Brexit looming, that attractiveness could potentially fade (Jackson, 2017). Short-term implications of the UK’s exit of the European Union will likely affect bank profitability, via lower interest rates for longer periods of time (Jackson, 2016). The Brexit also affects living standards. The authors of this article predict that the living standards (income) in the UK will decrease anywhere from -2.61% to -1.28% per capita with an actual range income change being -£1,700 to -£850, or around $2,182USD to $1,090USD (Dhingra, Ottaviano, Sampson, and Van Reenen, 2016). The authors also show that the exit of Britain may affect the living standards of people in other European countries as well. (Begg and Mushovel, 2016). Around 3.3 million jobs in the United Kingdom could be in jeopardy, but aren’t guaranteed to be lost (Begg and Mushovel, 2016). The Brexit could increase employment in import industries as competition would rise (Begg and Mushovel, 2016). The public finances of Britain would improve after the Brexit because of the savings in contributions to the EU, but this is only if Britain’s GDP does not decrease by more than one percentage point (Begg and Mushovel, 2016).

On June 23, 2016, the United Kingdom holds The Brexit vote. The situation for the "stay in Europe" camp won 17,410,742 votes, "off the European" camp won 16,141,241 million votes; calculate as a percentage of 51.9% to 49.1%. And it will be reaching an agreement after 2 years even the time may be extended. The European process has aroused strong concern in the world, the results have also been the uproar of the world, a variety of evaluation and attention has been following consistently. Obviously, British economy will be changed; whether it is long-term or short-term, and there must also exit some advantages and drawbacks back this time of leave European. This essay will analyse macroeconomic affect on the UK from long-term and short-term

Before diving straight into things, here is a very brief recap of the Brexit, thus far. * On Thursday 23rd June 2016, the Referendum on the United Kingdom 's membership of the European Union, otherwise known as the 'Brexit ' vote, was staged for a third time with historic consequences. Where the majority of the votes from the participating population supported the bid to leave the European Union, 48.1 to 51.9%. The result leaving the British economy in pieces, major politicians forced to resign, including those that supported the bit to ‘Leave’, along with the then Prime Minister David Cameron and the

While walking into class on November 25th, Czech Republic was very optimistic. Optimistic in the hopes myself and the other nations within the European Union, would be able to successfully go through the pressing issues, and hopefully resolve some of them. However, leaving at the end of class I realized, that the EU was going to need some more time. Going into the debates on the second day I was still optimistic that something would get done. Again however that was not the case. Numerous talks were addressed but nothing finalized. Leading to the sad truth that on the third and final day we all would have to buckle down and actual get something accomplished. However, on the last day again we all addressed the issue but nothing was able to

Brexit is the name of the process of Britain leaving the European Union, which is the primary concern of the modern global political situation. During the referendum on the UK membership in the European Union, the main argument for leaving the union was that it would provide the country with better system and tools of protection from the immigrants. UK citizen was concerned that immigrants would bring to the country 's unemployment rate, lower quality of life and other economic problems. The statistics say that almost seventy percent of the immigrants from the EU came to Britain because of work related reasons or to study ( ONS , 2016 ).The purpose of the this essay will analysis negative impact of Brexit on economic Britain and find some solutions resolve these issues.