The Economic Impact of Brexit on the UK: An Analysis

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Academic English Skill: Portfolio Assessment task 2
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Table of Contents
Introduction................................................................................................................................3
Section 1.....................................................................................................................................3
Section 2.....................................................................................................................................3
Section 3.....................................................................................................................................3
Conclusion..................................................................................................................................4
Reference List............................................................................................................................5
Appendix....................................................................................................................................6
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Introduction
The study shall focus on a global issue and explain its relevance in modern era. An essay will
be formulated to present views and opinions on the chosen issue. The chosen topic is
“Brexit”.
Section 1
The main point to be discussed here is how Brexit Vote influences the UK’s economy.
European Union has a positive and strong effect on the businesses of the UK. Brexit
incidence may cease the net economic contribution of EU’s trade agreement (Dhingra et al.,
2016). The Government may levy high tax rate on established businesses. The value of
current can be reduced post-Brexit event. Organisations operating in EU may not show
interest to initiate collaborative business with companies operating in the UK.
Section 2
Brexit is an important topic to be discussed, as organisations can prepare themselves for
future uncertainties created from it. It has both political and economic impacts on different
industries. Therefore, this global issue has been prioritised for discussion.
Section 3
Introduction
The essay presents whether the writer’s argument on Brexit and its impact on the UK’s
economy is valid or not. It shall be supported with coherent and clear argument.
Main Body
As per the report of guardian, it is noticed due to Brexit, it affects on UK economy. The
inflation rate is reduced and as a result, it decreases the price rate of petrol (theguardian.com,
2019). Therefore, it can be stated that from the petrol and diesel, government of UK increases
their economic status in an appropriate manner. On the hand, Dhingra et al. (2016) mentioned
that brexit indicates the political instability and as a result, it leaves negative impact on the
stock price level of UK. Therefore, UK economy is affected by Brexit vote
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In order to focus on the business, it is found out that due to political instability, the criteria of
UK products is decreased in various countries such as China, Australia and many others.
Gudgin et al. (2018) argued that not only proper tax rate is responsible for profit declination,
but also, UK organisations do not want to follow the rules of other countries. It is quite vivid
that car-manufacturing organisations do not want to deal with China, which decreases the
economic standard of UK. In addition to this, income rate from every business is reduced as
due to political instability, they cannot run business effectively.
Therefore, from the scenario, it can be declared that due to Brexit vote, political stability is
not noticed in UK. It also affects on the business growth, as organisations of other countries
do not want to run their business in UK. Thus, Brexit leaves huge impact on the economy of
UK.
Conclusion
The essay has emphasised how Brexit has influenced the nation’s economy positively and
negatively. The worse and possible impacts were presented in the essay.
Conclusion
It is concluded that Brexit is likely to decrease the per capita income level of citizen and
decline the overall cost of business. Organisations should take possible actions to deal with
future consequences of Brexit.
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Reference List
Dhingra, S., Ottaviano, G., Sampson, T. and Van Reenen, J., 2016. The impact of Brexit on
foreign investment in the UK. BREXIT 2016, 24, p.2.
Dhingra, S., Ottaviano, G., Sampson, T. and Van Reenen, J., 2016. The impact of Brexit on
foreign investment in the UK. BREXIT 2016, 24, p.2.
Gudgin, G., Coutts, K., Gibson, N. and Buchanan, J., 2018. The macro-economic impact of
Brexit: using the CBR macro-economic model of the UK economy (UKMOD). Journal of
Self-Governance and Management Economics, 6(2), pp.7-49.
theguardian.com 2019, How Has Brexit Vote Affected the UK Economy, Available at:
https://www.theguardian.com/business/2019/jan/25/how-has-brexit-vote-affected-the-uk-
economy-january-verdict [Accessed on: 12th February, 2019]
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Appendix
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