Impact of Brexit on UK Economy

This report explores the impact of Brexit on the UK economy, including the implications for trade, business, and political stability. It discusses the decline in various sectors and the challenges faced by companies and individuals. The report also highlights the negative effects on tourism, investment opportunities, and disposable income. Overall, Brexit has had a significant impact on the UK economy and its relationship with the European Union.

Individual report

TABLE OF CONTENT
INTRODUCTION.................................................................................................................................3
MAIN BODY........................................................................................................................................3
CONCLUSION.....................................................................................................................................7
REFERENCES......................................................................................................................................7

INTRODUCTION
UK decision to leave European Union, Brexit has been recognised as one of the most
high impactful decision taken by majority in referendum where data and research explains
how the various sectors of economy have been impacted. Report explains various impactful
arenas of decisions by UK economy as faced by the partition from EU, the decline and how it
is recognised as high impactful decision onto which higher gaols are unset for country.
MAIN BODY
United Kingdom has left European Union post the Brexit Transition period and is
responsible for making its own laws which has been recognised as the most historical
decisions in the history of UK political environment.UK new found independence is
recognised as big regret decision within the parliamentary sovereignty. Uk has chosen the
decision to impart from European union which will have large implications on business and
economic aspects being highly disturbed with the changed diameters of laws. Uk being out
of European union will have to impart from all trade laws where European countries are
given various trade advantages with limited tax pays and medium trade funds being utilised
through which companies have been gaining huge advantages. The trade laws currently
operated within UK makes its highly difficult to trade and expand their businesses into
international market horizons. The implications of increased price rates of taxes, high Tarrif
barriers and various other high end business avenues have been drastically affected with the
Brexit decision. UK has been undergoing huge instability within the political scenario where
changed economic situations have led to high degrade and impactful functioning position
through the repressions ( Becker, Fetzer and Novy, 2017). The Brexit decision has been
highly world renowned political decision ads there was major chaos among all countries
where various aspects of choices among people have been faced b y very drastic impactful
periods.
Politically country has been facing very unstable situations through which the
demographic situations and economic scenario has also been largely disturbed. European
countries have vast market of company headquartered within UK through which companies
are facing huge losses and high fall in supply chain as the increased working scenario of
partition from European union has highly disturbed the very fundamental basis of business.
Economically country may also face large losses in economic scenario as there have been
large instable situations, with many companies shutting down their companies within

European Union. The referendum explains withdrawal of United Kingdom from European
Union where protests among people had started from June 2016, in which 52% voted to leave
and 48% voted to remain in UU, the British Government formally has announced country’s
withdrawal in March 2017 (Clarke, Goodwin and Whiteley, 2017). Aside from trade many
other aspects of the future UK-UE relationship will also be affected variably where law
enforcement, data sharing and security along with aviation standards have been highly
impacted. Acess to fishing waters, supply of electricity and gas, licensing and regulation of
medicines within the international boundaries of international countries where European
countries are highly being the potential large customer share market. The referendum
decision has come after large protest in major parts of United kingdom to go ahead with the
Brexit decision and leave European union, where 52 percent voted to leave UK and 48%
voted to remain in EU. British government formally announced country’s withdrawal in
March 2017, beginning the Brexit procedure which has been the historical decision.
Ex-president of European union has claimed that Uk will regret this decision one day
where it explains the major implications which country may face for coming situations based
on changing economic scenarios. Brexit decision has largely affected the various scenarios of
economic growth and political stability with increased taxation and tarrifs being implied onto
the exports and imports from European countries where Uk has large established markets. It
has also impacted companies for investment opportunities with instable market position and
high implications of economic situations also affecting people disposable incomes with
various margins. These factors explain in detail various parameters onto which various other
high affirmation of growth, leverage of fundamental key targets have been highly impacted.
There has been high decline in tourism sector also within EU countries being the large
potential market travelling within UK, which explains the factors highlighting the major
impacts on progressive avenues (Colantone and Stanig, 2018). UK economy has been facing
large decline in various sectors where European countries are highly finding it difficult with
the major tariff barriers and vice versa is the case where it explains high vital market loss
among UK market scenario. The decision has been taken as one of the major political
historical turning point of partition from European union where law preceding and voting
among people have highly negatively impacted the growth horizons. UK parliamentary
sovereignty refers to various fundamental key decisions which are taken by voting among
general public , seeing the large impactful position of public to vote as per their best interests.

Largely people voted among all countryside for Brexit which has been recognised as
major political decision impacting the working parameters among all over country and
commercial barriers onto which later major complications have been recognised
economically. The European countries have been the major company investors and travellers
business market share when UK was part of the EU, with this decision both sides of
referendum have been facing large disadvantages and functional operations being highly
marginalised with the pace of time period. Brexit decision is the most impactful political
turning point for EU countries and UK business scenario, implications of which have been
highly wide spread into diverse sectors of industries and globally the world reputation
(Dhingra, Ottaviano and Reenen, 2016). The referendum and partition of UK from European
has impacted the political situations among both avenues where data and analytics explain the
major downfall in coming years based on political instability, political scenarios and
functionally diminishing the cooperative market stability fundamentals. Major parts of world
have been recognising the negative impacts and changed business scenario decisions with UK
partition from EU, and the changed diameters of the business unity among political scenario.
Globalisation has brought countries closer with each other with various new
companies coming up for investment decisions and pooling down resources based on their
factors and functionality of growth which impacts various parameters of growth. UK
domestic market is facing high tax rates, increased tariff barriers and high implications with
the international market partners within EU being lately diminishing the amount of inputs nad
financial investments. Globally many nearby countries have been also feeling the negative
impact and repercussions with decline in money invested within UK market scenarios, keenly
hindering the large market obligations through which the reputation has also been highly
diminished. The Brexit decision has been found to be the major political decision in history
of United Kingdom where large public has voted to impart from EU making the referendum
votes being highly vast to potentially implement the law (Ford and Goodwin, 2017). The
Brexit effect has been faced by companies who have been the potential investors within EU
countries due to which there has been highly neglect on future perspectives where many
politicians have analysed its drastic impact upon business and economic parameters. The EU
countries have no taxation for imports and exports with each and very less tariff rates due to
which UK was also able to leverage potential high growth business avenues. Major parts of
world have been drastically facing its effect on their imports and exports from UK where
economic parameters have been highly loosing the stability along with various other markets

being affected. Companies have largely failing to increase their investments within UK
market and EU countries companies, as rates of taxes and tarrif barriers being highly drastic
(Hobolt, 2016).
Moreover the separation Of UK from EU has been taken only with the view of
present situation and not with the long run implications among on various business avenues,
relative impacts on various working avenues through which various economists have felt it to
be highly negative for UK and EU business decisions. The law took this referendum decision
with major percentage of vote for people to impart form EU upon which major debates and
studies have felt to be neglecting the various parameters of economic growth , goodwill and
disposable consumer market share income among public within UK internal economy which
will be hard to overpower (Inglehart and Norris, 2016).
CONCLUSION
This report can be concluded with the fact that reports and data have shown UK
decision to leave European Union has made various scenarios impact negatively with the
increasing time periods and there ahs been high decline in their business avenues, goodwill
among global countries and functional ethics. Report concludes various other impactful
decision which are the factors upon which various other implications of business has affected
with slow production profit, low imports and exports and less globalisation with various other
parts of world. Reports concludes disposable income of people has also been highly lowered
with the continuous decisions of EU and UK partition (Pain, Rusticelli. and Zwart, 2016).

REFERENCES
Books and Journals
Becker, S. O., Fetzer, T. and Novy, D., 2017. Who voted for Brexit? A comprehensive
district-level analysis. Economic Policy. 32(92). pp.601-650.
Clarke, H.D., Goodwin, M. and Whiteley, P., 2017. Brexit. Cambridge University Press.
Colantone, I. and Stanig, P., 2018. Global competition and Brexit. American political science
review. 112(2). pp.201-218.
Dhingra, S., Ottaviano, G. I., and Reenen, J. V., 2016. The consequences of Brexit for UK
trade and living standards.
Ford, R. and Goodwin, M., 2017. Britain after Brexit: A nation divided. Journal of
Democracy. 28(1). pp.17-30.
Hobolt, S.B., 2016. The Brexit vote: a divided nation, a divided continent. Journal of
European Public Policy. 23(9). pp.1259-1277.
Inglehart, R.F. and Norris, P., 2016. Trump, Brexit, and the rise of populism: Economic have-
nots and cultural backlash.
Pain, N., Rusticelli, E. and Zwart, S., 2016. The economic consequences of Brexit.