Evaluating the Economic Impact of Brexit on the United Kingdom

This research proposal examines the multifaceted impact of Brexit on the UK economy. It begins with an introduction to the topic, outlining the research rationale, aims, objectives, and research questions. A literature review provides context, discussing the concept of Brexit, its major impacts, and potential future threats and opportunities for UK development. The methodology section details the research philosophies, approach, strategy, data sources, collection methods (including the use of surveys and secondary data), and data analysis techniques. Ethical considerations are also addressed. The research aims to evaluate Brexit's impact, determine its effects on the UK economy, and identify future implications and opportunities. The proposal outlines the resources required and presents an action plan to complete the research within a specified timeframe. The report seeks to provide a comprehensive analysis of Brexit's economic consequences, offering valuable insights for understanding its long-term effects on the UK.

Research Methods

Table of Contents
Introduction................................................................................................................................3
Research rationale......................................................................................................................3
Aims and Objective....................................................................................................................3
Project Aim:...........................................................................................................................3
Project Objectives:.................................................................................................................4
Project Questions:..................................................................................................................4
Literature Review.......................................................................................................................4
Research Methodology...............................................................................................................6
Resource Required.....................................................................................................................8
Action Plan.................................................................................................................................8
References..................................................................................................................................9

Introduction
UK is the country which are not participants in treaty of Rome (1957) that actually make
a creation of European Union. Brexit impact make an significant change in the UK’s
relationship with the other European union and countries which are related to make reopen
the opportunities to make negotiate the trade and make a deal with the Non-European
countries. From the previous research it has been analysed that country are able to make
effective benefits and make some pre-assumed benefits of economic output and remained
member of the blocs. Post brexit referendum, there was the uneasiness in the UK market and
majorly affect the political and economic impact on the UK (Fernández, Paz-Saavedra and
Coto-Millán, 2021). With the changing nature of brexit UL major sector are affected and
work as per the development and cause for the failure impact on economy. Further this
research proposal include the brief description of the impact on the UK economy and its
future implication and opportunities which are needed to be known by the audience of the
UK to understand the concept of brexit and its impact. Further the researcher make a report
for the long term impact on the brexit on the economy. In addition to that, the fiscal and
economic implication of the proposed deal and make a strategic economic outlook in the UK
were to remain within the economic union.
Research rationale
This research has been conducted for knowing the major impact of brexit on the growth
of UK economy. This research will be helpful for the audience in this field and understand
the concept of brexit policies in UK and its impact on the growth of UK economy. As the
impact of the brexit is visible in UK and majorly in the falling down the economy which are
needed to be analysed with in this research proposal (Oxford Analytical, 2021). After
seeming the major impact of Covid-19, it has been needed to be analysis the behaviour and
policies of brexit and needed to be going for higher and better consequences of brexit which
could be future threat and opportunities for UK economy. Rather finding some negative
impact this report also make sure to find major growth and its positive impact with the strong
relationship of EU and it will be helpful for the UK economy to reopen the opportunities and
make negotiable trade with European or non-European countries.
Aims and Objective
Project Aim:
“The aim of the project is to evaluate the impact of brexit on the UK economy.”

Project Objectives:
 To understand the concept and changes implementing after brexit.
 To determine the major impact of brexit on the UK economy.
 To determine the future threat and opportunities for UK development.
Project Questions:
 What is the meaning and concept of brexit in UK?
 What are the major impact of brexit on UK economy and its growth?
 What are the future implication and opportunities for the UK development due to
brexit impact?
Literature Review
To understand the concept and changes implementing after brexit
According to the view point of Edgington, (2021); the brexit means, to phase the enter
in UK, which are related to make enter into the lives and make sure for different sector and
analysis in the different transition period which are related to the 11 month, where the UK
exit from the European union and make follow EU rules to work and allow the leader for
make different deals (Engilbertsson and Zoega, 2020). Further it will be related to major free
trade in between two major countries, where neither for the different chargers taxes or duties
on good and make crossing border. It will be related to major growth and sector in the
achieving sector.
Further it will be related to the major growth in the EU and UK for the negotiation in
order to make agreement and implement in trade deal by the different sector by 1 January
2021. It would be related to UK trading and make an agreement with WTO with the different
terms of EU. Most of the UK goods and trading company are able to manage the sources and
make traffic and make free trade which was ready for the growth in brought in. all of these
are able to force and make different activities which are highly related to the changes in
major UK argues and deal with the changes and it make an impact of UK GDP, 1.4% in 2021
and 0.4% in 2022 and it will assume that growth return in 2023 (Brexit: What is the
transition period?, 2021).
To determine the major impact of brexit on the UK economy
As per the view point of Allan and Badiani, (2021); The UK government are able to
make some major rectification and make withdrawal agreement, which are allowed to UK to

leave EU. This will make a restoring business agreement, and make repairing investment
which are related to make brexit uncertainties and make a high risk radar on the economy of
UK. With the major side effect of covid-19, the future of UK and EU relationship are failed
and tried to make such significant growth and progress in the country (Liew, Goodwin and
Walasek, 2020).
Figure 1, Brexit and the UK economic impact, 2021
This is very important for the UK and EU event to make some strategic event and
make impact on the high industry to analysis the transition period, it will be related to make
some major virtual that has been related to EU-UK trade negotiation and make effective
challenges in the short timeline (Brexit and the UK economic impact, 2021). While having
major positive impact, it has major negative impact on the economy of UK and the most
important effect on the GDP which are fall down form the last two year because of Brexit and
Coronavirus pandemic.
To determine the future threat and opportunities for UK development
As per the view point of Zaidi., (2021); There are major threat and opportunities which are
related to the UK development and growth in the market in future growth which are related to
explain below:
Threat: It make a negative impact on the dynamic impact on the developing countries
and it will make the close economic relationship with non-EU countries and work as per the
reduction in export, economic growth and FDI (Stoupos and Kiohos, 2021). Further the UK

make the financial contributor towards the multilateral growth and management in the EU
banks and it will make a loss for EU and UK both.
Opportunities: after free form EU, country are able to make free trade, duty free, quota
free and many more access on the market which make more simplified rules for the growth of
UK market. Further UK make the strong competitor and make reduction for the subsidies and
work as per the management and culture for agriculture and fishing market (Brexit: A review
of impact on future of United Kingdom outside the European Union, 2021). All of these are
helpful in managing and growing the demand of customer and other market in the UK
economy and enhance the change in Future.
Research Methodology
Research methodology is the step which are used by the researcher to collect and
analysis the data in an organised way. It will be helpful for the researcher and other viewer to
make effective analysis and use different source for knowing better understanding and
method for collecting and managing effective source in the research.
 Research philosophies: there are mainly two type of research philosophies, which
are related to the nature of the reality which are being invested in research. Mainly
positivism and interpretivism, positivism is the based on the idea of scientific
knowledge and make some valuable conclusion over the determine objectives (Iovino
and Tsitsianis, 2020). The researcher choose positivism approach for complete this
research rather than interpretivism. As interpretivism is based on the qualitative data
method and take more time as compare to positivism approaches. Positivism approach
is basically useful for replicated research and make quantifiable result for analysis the
data and make statistical analysis.
 Research approach: A research approach is basically related to deductive or
inductive analysis for make depend on the different way which are related to make
choice, aim, limitation and different opinion. Inductive research is the approach which
is basically related to make helpful data and make little based research. Further,
deductive research is basically related to make generic and specific which are helpful
in analysing the method, and reasoning start to theory and make a start up in the
research where some data and its interpretation is needed.
 Research strategy: This is the third layer of research methodology, which will
include the collect data, and make different method to collect the data which can be

related to experiment, survey, case studies, action research and ethnography which are
highly related to complete different strategy (Piechowiak, and et.al., 2020). This will
be related to major sources and growth of the research and make applicable research
outcome while completing this research. It will be helpful for the research strategy to
understand and known the way to collect and analyses the data in an authorised way.
 Source of data: The fourth layer of the research methodology is to which way collect
and source the data. There are mainly two type of data collection which are related to
major sources and make related to qualitative and quantitative data collection method.
There are three type of method which are related mono, mixed and multi method
(Pastor-Belda and et.al., 2020). Where the researcher are able to used mono method
where they collected only quantitative data as per the above research method and
design which choose by the different method and analysis for the data collection
process and make effective sources.
 Data collection: When it comes to data collection method, as it will be related to
primary and secondary source of the data collection method. As it will be related to
major changes to work and manage the data and make sure for the growth of the
research and analysis the data in an authorised method. Here, the researcher are
needed to make primary and secondary data method and their collection which are
basically related to different sources and make effective outcome of the research. It
will be helpful for the data collection and their ethical consideration.
 Data analysis techniques: For the primary data collection, the research use survey or
questionnaire and the sample population of the survey is chosen 100. And out of that
the sample size is 40. This will be appropriate size of data to know more about the
data and make sure to work as per the management of the data. Further for the
secondary method of data collection, researcher used different books, journals and
online articles. To make effective interpretation graph, tables are used to make more
effective approach and possible learning outcome.
 Ethical consideration: It has been important for the research to .use the ethical
consideration which are helpful for the researcher to analysis and make some major
important steps for completing this research. It is important to analysis and make sure
for working and managing the data in an authorised manner (Amdoun and et.al.,
2020). It will be related to work and manage different sector and related to privacy,
mutual consent and many other informative forms which are related for the growth of
the research and make effective and ethical consideration process in an organised

way. For completing this research, investigator use cross sectional time horizon which
are helpful for working and managing effective source of data in an authorised way.
Resource Required
In order to complete this research, the major time which are required is nearly 7 weeks
after the approval of project. Further the resources which are needed to complete this research
are print media, many electronic devices and internet. Further to make the primary research
the questionnaire publication and many more things are required to complete this research
and make possible effective outcome (Lugvishchuk and et.al., 2020). There are only print
media cost are required to public the research and make copies of that. As due to the covid-
19, the primary research is done by the online portal like Google or any other application.
Action Plan
Activities Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7
Proposal
Topic,
aim and
objective
Data
collection
Data
analyses
Research
methodol
ogy
Conclusio
n
Recomme
ndation

References
Books and Journals
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stress via response surface methodology (RSM) and desirability function
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Engilbertsson, S. and Zoega, G., 2020. The effect of Brexit on the UK Economy (so far).
In Capitalism, Global Change and Sustainable Development (pp. 111-139).
Springer, Cham.
Fernández, X.L., Paz-Saavedra, D. and Coto-Millán, P., 2020. The impact of Brexit on bank
efficiency: Evidence from UK and Ireland. Finance Research Letters, 36, p.101338.
Iovino, F. and Tsitsianis, N., 2020. The Methodology of the Research. In Changes in
European Energy Markets. Emerald Publishing Limited.
Liew, T., Goodwin, R. and Walasek, L., 2020. Voting patterns, revoking article 50 and
antidepressant trends in England following the Brexit referendum. Social Science &
Medicine, 255, p.113025.
Lugvishchuk, D.S, and et.al., 2020. Irreversible high pressure phase transformation of onion-
like carbon due to shell confinement. Diamond and Related Materials, 107,
p.107908.
Oxford Analytica, Brexit will give the UK economy new opportunities. Emerald Expert
Briefings, (oxan-db).
Pastor-Belda, M. and et.al., 2020. A rapid dispersive liquid–liquid microextraction of
antimicrobial onion organosulfur compounds in animal feed coupled to gas
chromatography-mass spectrometry. Analytical Methods, 12(21), pp.2668-2673.
Piechowiak, T., and et.al., 2020. Optimization of extraction process of antioxidant
compounds from yellow onion skin and their use in functional bread
production. LWT, 117, p.108614.
Stoupos, N. and Kiohos, A., 2021. BREXIT referendum’s impact on the financial markets in
the UK. Review of World Economics, 157(1), pp.1-19.
Online
Allan, L., and Badiani, R., (2021). Brexit and the UK economic impact. [Online]. Available
through: < https://ihsmarkit.com/research-analysis/brexit-and-the-uk-economic-
impact.html>. Last accessed- 19th May 2021.
Edgingtin, T., (2021). Brexit: What is the transition period?. [Online]. Available through: <
https://www.bbc.com/news/uk-politics-50838994 >. Last accessed- 19th May 2021.
Zaidi and et.al., (2021). Brexit: A review of impact on future of United Kingdom outside the
European Union. [Online]. Available through: <
https://www.researchgate.net/publication/320383611_Brexit_A_review_of_impact_
on_future_of_United_Kingdom_outside_the_European_Union >. Last accessed- 19th
May 2021.