The Impact Of Brexit On The Uk Economy

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,

The United Kingdom initially joined the European Union in 1973 for economic reasons hoping to promote trade and form relationships with other states in the Union. In 1975 the UK held its first national referendum on withdrawal from the European Economic Community. According to the poll,” 67 % of Britons voted to stay in the EEC and 32 % voted to leave the union” (GYE). Because of this result the UK stayed in the EU in 1975. Over the past 40 years the European Union has been through a lot of change, many more countries have joined the organization and the EU has extended its control over more aspects of daily lives. These changes have sparked a lot of controversy coming from both the UK public and

While the contributions of all member-states in the EU have been important and appreciated, the UK has brought a lot to the table that many other countries couldn’t. For example, the UK’s influence and the weight of just its name. For hundreds of years the UK has been powerful and if it had something to say, the world would listen. When the UK joined the EU it was a monumental victory for the existing member parties, because it meant that a powerful country, that could bring credibility and importance to a coalition previously lacking in both areas, would be joining their ranks.

What is Brexit? Brexit is the shorten way of referring to two words which are “British” and “Exit”. The situation that British exited from European Union. So, what is European Union? According to (Hunt,A. & Wheeler,B. 2016) The European Union - often known as the EU - is an economic and political partnership involving 28 European countries. The EU has a single market which is the agreement between the countries’ member in EU to allow goods, service, money or even people to move freely within the EU. The Single market was to create job employment, increase the trade and lower the prices. Even though, the European Union has many advantages but why British wanted to leave the Union? Because there are some disadvantages that had made British

This article explains the “on-going” argument of whether or not Britain should remain in the European Union or leave. Prime Minister David Cameron vowed to keep Britain apart, winning the backing of most of most of his Cabinet and the goal of rival parties. Cameron has made it clear Britain is safer and stronger in the EU. However, much of Britain believes in opposition to their membership among the the European Union, leaving this as a constant

The European Union was established as an economic and political partnership between 28 European Countries (European Union, 2015). The UK has been stayed in the EU for over four decades from 1973 to now. In 1975, Labour Prime Minister Harold Wilson had ever held a referendum on Britain’s membership in the EU and the voting result is to stay in the European Community. Recently, the article (BBC NEWS, 2015) reported that the UK has a plan to hold the second referendum by the end of 2017 to decide whether or not the UK should stay in or leave the European Union. This might be a significant referendum that may bring lots of impacts on the UK’s economy.

The establishment of the EU was in the works starting from 1945, the end of the Second World War. The United Kingdom started the process of joining the EU in 1969, finally joining the community on January 1st 1973 along with Denmark and Ireland. The official establishment of the European Union as we know it today was on November 1st, 1993 in Maastricht, Netherlands. When England joined the EU, the European Parliament increased its influence in affairs so that all citizens could elect the members of parliament directly. Currently there are 28 members of the European Union, but with the recent developments of brexit, it seems as though the UK might make it so there are only 27 members of the EU. Not only was the European Union established to get rid of war, but with it’s establishment also came a new currency that many members of the EU began to use. From its establishment also came the Banking Union, which ensures safer and more reliable banking to prevent economic crisis like the one that occurred in 2010. As hoped for, the EU also hugely improved international trade and made the EU the top trading partner for 80 countries and the world’s largest manufacturers for goods and services. Free international trade is also the basis for the establishment

In the aftermath of the Second World War, Winston Churchill called for the creation of a "United States of Europe" to bind France and Germany together. In doing so, he made clear that Britain would be a supportive but independent partner of any such entity. He famously said: 'We are with Europe but not of it." In the end, Britain did join the European Economic Community but only in 1973, 15 years after the Treaty of Rome was signed. We joined the Social Chapter in 1997, eight years after it was adopted by other member states. And we never signed up to Economic and Monetary Union or the Schengen Agreement on common borders. However, it is not until now that the British public have been presented with the

In regards to the welfare effect, if Britain were to leave the EU they would regain full control of their borders, meaning EU nationals would face the same visa restrictions as those outside of the EU. This could create more job opportunities for British workers and boost wages, and possibly could result in easing pressure on hospitals, schools and other public services. On the other hand, pro supporters of remaining in the EU argue that immigration from the rest of the EU has been beneficial for Britain’s economy, and that growth forecasts are heavily based around high levels of net

On June 23, 2016 a referendum was held to decide Britain’s fate in the European Union (EU). The voters decided to leave the European Union, commonly referred to as the “Brexit”, leaving many surprised as the polls have shown otherwise. The preliminary aftermath of this development is now evident for the UK and the EU, with much speculation on its outcome on the market, immigration, and ultimately, the economy. For this real-world case, the appropriate lens to describe this event is with the approach of political realism through parsimony.

Over the last few years, the probability that Britain may leave the EU has grown. Prime Minister of the United Kingdom David Cameron announced a referendum concerning British membership in the EU to be held on June 23. Essentially not all the changes, which may occur, can be reduced to the question of money, since the problem has a strong political context. Still, this essay is mainly focused on economic aspects of the possible exit. Many experts regard the EU membership as generally beneficial for the UK; still there are some significant drawbacks. At the same time, there are factors that limit any possible prediction of the economic consequences of the British exit from the European Union. Nonetheless, in this work main areas affected by

The conclusion drawn from the information obtained is that the Bank of England and the UK have been relatively successful if measured against other similar sized nations across Europe. True measurement though is done by looking at unemployment, Gross Domestic Product (GDP) growth, Bank of England interest rate, inflation rate, 3 month Treasury rate, public debt, and imports and exports, (economics watch 2013). In this case the UK has not done so well with higher inflation, freezes on public services, increased national debt and increased unemployment (economics watch 2013) – this therefore is more of the effects on the people of the UK as a result of

Literature review: In September 2017 Thomas Sampson from The London School of Economics and Political Science wrote a Literature on Brexit. The title of the literature was Brexit: The Economics of International Disintegration. In this literature review I will briefly summarise the literature wrote by Thomas Sampson.