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Essay on the Social and Economic Effect of the Brexit

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Added on  2020-07-23

Essay on the Social and Economic Effect of the Brexit

   Added on 2020-07-23

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Brexit
Essay on the Social and Economic Effect of the Brexit_1
Table of ContentsBrexit................................................................................................................................................1INTRODUCTION...........................................................................................................................1Brexit................................................................................................................................................1Conclusion.......................................................................................................................................3REFERENCES................................................................................................................................4
Essay on the Social and Economic Effect of the Brexit_2
INTRODUCTIONBrexit refers to the prospective withdrawal of the united kingdom from the European Union. Thepresent report is going to discuss the social and economic effect of the Brexit within the country.In addition to this, how companies responded toward these changes has been also included in thisreport.BrexitBrexit refers to the prospective withdrawal of the united kingdom from the EuropeanUnion. On the 23 June 2016 Thursday taken the decision of leaving UK from the Europeanunion. In this procedure, England voted for Brexit by 53.4% to 46.6 %. While this brexithappened within the country then new prime minister announced. Major, Brexit influence theeconomic and social factor within the country. Due to this affect, most of the business entity hasbeen influenced in large manner (Stokes, Wilson and Wilson, 2010). In the context of economy,rate of employment and labour market has been affected in large manner due to this Brexit. Mostof the migrants looking for the job so rate of employment has been increased. According to thestatistics, the UK unemployment rate is likely to increase to 6.5% due to recession. In the 2015march, the annual net migration from Europe has more than doubled since 2012.Immigrationfrom the EU is currently boosting the workforce by approximate 0.5% a year. The trade andmanufacturing activities within the EU has been also increased due to this Brexit happening.After brexit, interest rates has cut to the lowest level. More than 10000 finance jobs has movedaway from the Britain (Storey and Greene, 2010). UK is the biggest contributor of EuropeanUnion. With UK pulling out from EU have adverse effects on the economic conditions of otherEuropean countries. For example, Germany will have to face major loss in terms of jobs,economic conditions and trade. There can be huge job loss can be observed in Germany afterBrexit. A survey conducted by GFX states that 41% of people belive that economic condition ofGermany will be degrade after Brexit (Nuremberg, 2016).1
Essay on the Social and Economic Effect of the Brexit_3

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