Thoughts on The Economic Impact of Brexit


A report by the Centre for Economics and Business Research (Cebr), commissioned by the Open Britain campaign issued in November 2016 raised concerns over the impact of brexit on the economy in general.

There is concern that the knock-on effects of changes to the current UK-EU trade arrangements would reverberate throughout the economy, while the uncertainty of negotiating a free trade agreement (FTA) would hold back investment.

“It has taken a quarter of a century to negotiate the single market as it exists today and could take nearly as long to renegotiate a new arrangement on a sectoral basis” the report states.

It becomes clearer every day that Brexit, far from reducing red tape and the costs of EU membership, will result in tarrif and duties imposed on trade if individual deals have to be struck.

The UK will still have to comply with EU regulation when trading with other countries within the EU, thus the so called “red tape” will still apply. In fact “red tape” will probably increase if the UK has to negotiate separately with each country within the EU.

 

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