ex
it
Br
Brexit
by Kriti Maharjan
The termn "Brexit" is made by two words Britain and Exit.
The Referendum (June 23, 2016): The process began with a national referendum where the electorate was asked: "Should the United Kingdom remain a member of the European Union or leave the European Union?"
advantages and disadvantages
Advantages
Disadvantages
- Decline in Trade with the EU
- Contraction of GDP and Productivity
- Loss of Financial Centrality
- Bilateral Trade Agreements
th
an
ks
thanks
for watching
for
watc
hing
Brexit refers to the withdrawal of the United Kingdom from the European Union (EU). It was a historic, complex, and highly divisive political process that officially concluded with the UK's departure.
Results:51.9% voted to Leave48.1% voted to Remain.
The introduction of new customs barriers, checks, and bureaucracy has significantly reduced trade exchanges with the EU (the UK's main trading partner).
Several studies suggest that the UK's GDP and productivity are lower compared to a scenario where it had remained in the EU.
The rising cost of imports (due to trade barriers and the devaluation of the pound) has contributed to pushing up inflation.
Small and Medium-sized Enterprises have faced difficulties dealing with the new bureaucratic burdens and costs for trading with the EU.
Some functions of the financial sector (banking and trading) have been transferred from London to other European cities.
Labour Market and Mobility: Labour Shortages: The end of free movement has led to shortages of workers, particularly in sectors such as agriculture, healthcare, and hospitality, contributing to wage and inflationary pressures.
Reduced Mobility for Students and Workers: The withdrawal from the Erasmus+ program and visa requirements have limited study and work opportunities in the EU for British citizens, and vice versa
Bureaucracy and Trade: Increased Bureaucracy: Businesses must face a greater volume of documentation and procedures for exporting or importing goods to and from the EU.
The ability for the UK to legislate without the obligation to adopt EU directives and without the jurisdiction of the European Court of Justice.
The freedom to create its own rules (for example, in sectors like finance) that better suit British needs, eliminating perceived EU "red tape."
The ability to negotiate free trade agreements with countries around the world (USA, India, Australia, etc.) independently of the EU, which was impossible before. (It should be noted, however, that the benefits of these new agreements have so far been limited or lower than the costs of trading with the EU).
The introduction of a points-based immigration system (similar to the Australian model) to attract skilled workers from around the world and limit unskilled immigration. (It should be noted that, while EU immigration has decreased, overall net migration has actually increased).
The opportunity to redirect the contributions previously paid to the EU budget (although a part has still been allocated to maintaining the agreements).
Brexit
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Transcript
ex
it
Br
Brexit
by Kriti Maharjan
The termn "Brexit" is made by two words Britain and Exit.
The Referendum (June 23, 2016): The process began with a national referendum where the electorate was asked: "Should the United Kingdom remain a member of the European Union or leave the European Union?"
advantages and disadvantages
Advantages
Disadvantages
th
an
ks
thanks
for watching
for
watc
hing
Brexit refers to the withdrawal of the United Kingdom from the European Union (EU). It was a historic, complex, and highly divisive political process that officially concluded with the UK's departure.
Results:51.9% voted to Leave48.1% voted to Remain.
The introduction of new customs barriers, checks, and bureaucracy has significantly reduced trade exchanges with the EU (the UK's main trading partner).
Several studies suggest that the UK's GDP and productivity are lower compared to a scenario where it had remained in the EU.
The rising cost of imports (due to trade barriers and the devaluation of the pound) has contributed to pushing up inflation.
Small and Medium-sized Enterprises have faced difficulties dealing with the new bureaucratic burdens and costs for trading with the EU.
Some functions of the financial sector (banking and trading) have been transferred from London to other European cities.
Labour Market and Mobility: Labour Shortages: The end of free movement has led to shortages of workers, particularly in sectors such as agriculture, healthcare, and hospitality, contributing to wage and inflationary pressures. Reduced Mobility for Students and Workers: The withdrawal from the Erasmus+ program and visa requirements have limited study and work opportunities in the EU for British citizens, and vice versa
Bureaucracy and Trade: Increased Bureaucracy: Businesses must face a greater volume of documentation and procedures for exporting or importing goods to and from the EU.
The ability for the UK to legislate without the obligation to adopt EU directives and without the jurisdiction of the European Court of Justice.
The freedom to create its own rules (for example, in sectors like finance) that better suit British needs, eliminating perceived EU "red tape."
The ability to negotiate free trade agreements with countries around the world (USA, India, Australia, etc.) independently of the EU, which was impossible before. (It should be noted, however, that the benefits of these new agreements have so far been limited or lower than the costs of trading with the EU).
The introduction of a points-based immigration system (similar to the Australian model) to attract skilled workers from around the world and limit unskilled immigration. (It should be noted that, while EU immigration has decreased, overall net migration has actually increased).
The opportunity to redirect the contributions previously paid to the EU budget (although a part has still been allocated to maintaining the agreements).