What will happen when BREXIT is finalized | Read to know
Even
though it has been 2 years since we have been hearing about the Brexit, not
many of us have an idea of what it actually means or what will happen when
Brexit is finalized.
This
set of questions have led to a slowing British economy to a stagnating 0.1
percent in the first quarter of this year. Companies are cautious in investing
in the United Kingdom and the prices have gone up, all affecting the general
population.
Although
Brexit referendum had taken place in June 2016, the opposition has criticized
the May Government for making a complete mess of the procedure which is having
an adverse effect on the economy. Britain, which used to be a pacesetter among
the world's leading economies has come to a point where it is barely growing.
Big
companies like Toys R Us have gone bust, stores like Marks and Spencer are
planning cuts and there are also looming threats of companies stopping their
operations in the country altogether.
Airbus
has warned of pulling out of Britain if the future trade deals are not
clarified. It will affect 14000 jobs if the company ultimately pulls out.
The
real estate market has also cooled considerably with the number of property
sales last year being at a historic low level. While the falling value of
British pound may attract foreign customers as they can spend more, the expenditure
of British people is an all-time low.
Even
prime minister’s Theresa May’s government is split on how the Brexit should be
for Britain. Some are in a favour of a hard exit from the European Union while
some are rooting for keeping the European Union as close as possible after the
Brexit.
So
he spoke for all of Britain when the deputy chief of the port of Calais, Benoit
Rochet put forward his complaint to a parliamentary committee this month saying
that although he knows about the Brexit, he doesn’t really know what it means.
To
which the conservative chair of the committee, Nicky Morgan replied that Rochet
was not alone in his confusion.
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