What will happen when BREXIT is finalized | Read to know


brexit

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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