Brexit: UK Regretting Leaving EU

This report discusses the regret of the UK government after leaving the European Union and its impact on the country's economy. It examines the reasons behind the regret and the potential negative consequences. The report also includes statements from EU officials and legal authorities. The conclusion highlights the economic crisis faced by the UK government and its impact on the living standards of the people.

Report

Contents
Introduction...............................................................................................................................................3
Main body..................................................................................................................................................3
Conclusion..................................................................................................................................................5
References..................................................................................................................................................6
Books and journals..................................................................................................................................6

Introduction
Brexit refers to an abbreviation for the "British exit," it is for the withdrawal of UK from
the European Union. According to voting system, 52% votes are given in favor to leave the EU
but on the other hand remaining 48% votes are given for the statement that UK needs to remain
in European Union. Withdrawal of European Union is a political and legal procedure in which an
EU state member ceases to be the member of Union. The current report includes a discussion
about the statement given by ex-president of EU Claude Juncker that United Kingdom will going
to be regret in near future after stepping back from the European Union. It has been identified
that there are some news where legal authorities says that there might be a phase when
government of United Kingdom regret about Brexit as it highly affects their economic system in
a negative manner. Furthermore, there will be a time period where UK face recession and have
no jobs which affects the development and growth of a country. With the help of different
statement given about UK regretting about Brexit are going to be discussed in a detail manner.
Main body
The European Union or also known as EU is a economics and political union which
includes 27 member states which are mainly established within Europe. The member states have
estimated around overall population of 447 million people. It is said that EU has created an
internal single marketplace with the help of some standarised laws which is applicable to each
and every member states who have made an agreement to act as one. It has also been said that
main aim of EU policies is to makes sure that there must be absolute free movement of
technology, people, services, goods, capital and many more within internal marketplace.
British exit - refers to the UK leaving the EU. It has been said that Brexit was done by UK
government as there was voting system conducted by them. In the year 2016, a public voting was
done where around 17.4 million people opted and giving their vote for Brexit. Therefore, it has
been said that almost 52% people says that UK needs to leave the agreement with EU as well as
48% people votes to remain with the side of European Union. UK joined the European Union
community in the year 1973 and now is the first member state who is withdrawing with this.
There are many reasons for which United Kingdom wants to step out with the contract or
agreement made with European Union. On 31st January 2020, United Kingdom formally left EU,

but it has also been identified that there are still lot to talk, meeting and ample number of months
for negotiation to come. Furthermore, when UK government have agreed on the departure with
EU, but still there are lots of things which yet need to be decided by both the nations for their
future relationships and further professional growth and development. All these activities and
strategies need to be conducted during the transition period which is also known as
implementation time period. This time period is started immediately after the Brexit day which is
due to complete on 31st December 2020. It has been identified that during this implementation
period which is of 11-month duration, it is required by the government of UK to follow and
adopt all the rules and regulations decided by the authorities of European Union and there will be
a trading relationship between them. Furthermore, the Ex-president of European Union Claude
Juncker says that United Kingdom going to be regret in their future due to stepping back or
withdrawal from EU. According to a statement given by them on UK withdrawal from EU is that
they are going to face various financial and economic crisis in their near future. In addition to
this, they says that one of the most spectacular mistakes of United Kingdom is that they are
stepping back from European Union. Donald Tusk has said Brexit is one of the most painful as
well as saddest experience faced by them. Along with this, President of European Union
commission says that Britain is going to regret after leaving European Union.
A statement is given by European Union Ex-president Claude Juncker that the
government of United Kingdom is regretting in their near future as they are existing from a
contract made between 27 more states. This might affect their trading policies as all the member
countries can freely trade and move their products, services, people and technology from one
place to another because of single internal market. Because of this, UK will going to be regret
on their decision which they take in order to conduct their all the functions in an independent
manner. According to some well known personality the decision taken by United Kingdom
government about withdrawal from European Union is not effective in long run as there might
rise of some issues in order to trade between different market. The process of withdrawal started
by the parliament at domestic level through the 2015 Act as well as conclude this at domestic
level with the assistance of replacing 1972 Act. Therefore, it is very essential and important for
the Parliament that they should debate as well as scrutinize the policies and plan for withdrawal
negotiations. These might create some negative results as changes or modifications in different
laws and regulations affects overall functionality. According to some, it has been said that

Britons voted for UK to leave the agreement or European Union in the year 2016. After almost
Two and a half years, the nation is still make it trying to actually make it working out, as it has
still not clear that what Brexit is actually means. It has also been identified that there are various
cases, where people are not frustrated with the concept and idea of Brexit but with the way it has
been carried out or performing by the government of UK. Therefore, in short it can easily be said
that due to Brexit, life of people living within UK is getting worse as there are some kind of
crisis arise at the environment which influences their overall life style. In addition to this,
according to a Mori poll it has been determined that almost 41% people of the country voted that
there has been decrease in their living standard as compared to those 18% people who was
thinking that Brexit will make it better for them.
With the assistance of discussion and examining the view point of different people about
Brexit, it has been concluded that the major reason behind regretting for leaving European Union
is that government of UK does not implement changes in an effective manner which as a result
affect the end result. There is no clarity for people that what is going to be done after stepping
out of European Union which makes them feel regret about why they voted for leaving EU. One
thing which is good is that European Union president says that there will trade only relationship
between both the countries if they want in near future which will provide them assistance to the
UK government in order to overcome with their crisis and for improving their economic system.
Legal authorities also give their statement that if government of UK does not implement all the
strategies effectively there might be some negative impact which affect their political as well as
economic condition in an adverse manner.
Conclusion
With the assistance of above stated information, it has been identified that UK
government decides to exit from European Union which creates negative impact on the
economic system of the country. In addition to this, it has also been said that the Court of Justice
of the European Union (CJEU) says that all the EU law needs to be applicable in the similar
manner in each and every EU countries as well as settles all the legal disputes among national
governments & the EU institutions. It has also been identified that after Brexit happens
government of UK face economic crisis which affects the living standards, lifestyle as well as
development of people. Therefore, it has been concluded that because of the step taken by
government of UK fir stepping out from European Union affects their overall economic system

in a long run as they do not implement all the requirements in an effective manner which affects
the people in a negative way.
References
Books and journals
Whiteley, P. and Clarke, H.D., 2020. Forecasting the Economic Consequences of Brexit. In How
Referendums Challenge European Democracy (pp. 153-170). Palgrave Macmillan, Cham.
McGrattan, E.R. and Waddle, A., 2020. The impact of Brexit on foreign investment and
production. American Economic Journal: Macroeconomics, 12(1), pp.76-103.
Hobolt, S., Leeper, T.J. and Tilley, J., 2020. Divided by the vote: affective polarization in the
wake of the Brexit referendum. British Journal of Political Science.
Hobolt, S.B. and Rodon, T., 2020. Cross-cutting issues and electoral choice. EU issue voting in
the aftermath of the Brexit referendum. Journal of European Public Policy, 27(2), pp.227-245.
Greer, S.L., 2020. Social Europe after Brexit. In The European Union after Brexit. Manchester
University Press.