Academic Skills

Impact of Brexit on economy of a country
•impact of Brexit on economy of a country

Overview of Presentation
 The presentation will explain the concept and meaning of Brexit, it will also
identify the impact of Brexit on economy of a country.
 It will also identify one potential opportunity Brexit could create
 The presentation will also determine one possible problem Brexit can raise.

Introduction
 Brexit is an abbreviation for the term “British exit”, related to “Grexit” that
was utilized for numerous years to refer to the possibility of Greece leaving
the Eurozone.
 Brexit refers to the expectation of Britain withdrawing from the European
Union

Impact of EU leaving
EU rules tie up the British economy in red tape, and constrain the UK’s ability
to tap faster-growing markets outside Europe.
A British exit or Brexit would assist output by deducting the pressure of
regulation on business, and by freeing Britain to sign more free trade
agreements with nations outside Europe.

One potential opportunity Brexit could create
 If Britain left the EU, it would win back its net share to the EU’s budget,
which the Treasury estimates will be 0.5 per cent of GDP per year between
2014 and 2020.

Possible problem
 The U.K. has been one of the important contributors to the European
budget, but once it has left the EU there will be a space in the EU budget
that will have to be worked out somehow.

Conclusion and Implication
Reducing excise tax would make Ireland more competitive against the UK
market, which currently pays 19% less in overall excise tax than Ireland.
By making this decrease in excise tax, the Government would assist guard the
industry from cross-border shopping, make it more fascinating to UK tourists
and move the negative effects of the falling value of money on our exports
and imports

References
Kee, H.L. and Nicita, A., 2017. Short-term impact of Brexit on the United
Kingdom's export of goods. The World Bank.
Courtois, A. and Horvath, A., 2018. United Kingdom:‘The impact of Brexit on UK
higher education and collaboration with Europe’. In Higher Education and
Brexit: Current European Perspectives (pp. 159-184). Centre for Global
Higher Education.
Portes, J. and Forte, G., 2017. The economic impact of Brexit-induced
reductions in migration. Oxford Review of Economic Policy, 33(suppl_1),
pp.S31-S44.
Griffiths, P. and Norman, I., 2018. The impact of" Brexit" on nursing and health
services: Editorial debate.