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Brexit Opportunity or Failure

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Brexit Opportunity or Failure

UK Exit from EU

Getting Closer to a Deal?

As we move closer to Britain leaving the European Union, it would be fair to say that most people are still happy to stick by their original opinion.

There hasn’t been a lot of new evidence provided that will make people change their minds, one way or another. This creates a situation where it is difficult to say for sure whether an issue will be classed as an opportunity for Britain to prosper or to fail. This is a problem with trying to predict the future; no one knows for sure what is going to happen.

One of the key reasons that many people have been supportive of Britain’s exit from the European Union is a belief that protectionism in the EU has restricted the level of economic growth Britain has been able to enjoy.

Yes, the UK has enjoyed a level of GDP growth as a member of the EU but equally, many of the regulatory aspects of EU membership has prevented the UK from achieving better results.

Brexit Opportunity or Failure

Is the EU a Hindrance to the UK?

The UK Set to Win?

This is a key factor in why many people feel that freedom from the EU can allow Britain to prosper.

While the main matters are usually being argued on a point of opinion, there will be many elements where some people will view Brexit as a failure while others see the opportunity from the new situation.

It is clearly important to have regulations in place but there are times when these regulations act as barriers. By being in control of regulations, there should be a chance for Britain to create safe trading environments that still allow space for growth and development.

An example of how the EU can limit growth and business opportunities can be seen in the automobile industry. There are tariffs imposed on vehicles in Europe that are four times the level of the rate imposed in the United States of America and Japan has taken the step of removing tariffs on automobiles.

When there is barrier compared to other major nations in the world, it is easy to see why some people consider membership of the EU as a hindrance to development.

Brexit Opportunity or Failure

The EU is just one Possible Partner

EU is Only 8% of World Growth

With Europe being on the doorstep of the UK, many people believe that moving out of the EU will harm the level of trade between the UK and mainland Europe.

It is therefore important to note that the EU27 has been representing a falling share of experts from the UK.

This is an outcome that may seem counter-intuitive to the goals and aims of a single market and a Customs Union. Back in 1999, 55% of UK experts found their way to the EU while in 2016; this figure had fallen to 43%.

The EU will remain an important trading destination for the UK but given the declining proportion of trade, it would be remiss to consider the EU as the be-all-and-end-all for the UK at this point in time.

While not everyone holds the same opinion of the UK, it is hard to argue against the fact that it is classed as the sixth biggest economy in the world. This makes the UK an appealing prospect to a significant number of countries around the world.

Brexit Opportunity or Failure

It is perhaps a UK trait to not see the positive aspects it holds, focusing on the negative elements or potential problems that could arise. As the sixth biggest economy in the world, it is likely that many nations will view the UK as a stronger entity that is worth trading with, an opinion that is ironically not shared by many within the UK itself.

A high volume of major companies and important firms still have a headquarter or major premises in the UK, and there is nothing to say that this will definitely change once Brexit occurs.

Yes, there will be regulatory issues to contend with but the benefits provided by UK life are appealing and many firms will find that they have a workforce that is not willing to relocate.

At this point in time, no one knows for sure how Brexit will pan out. It is only natural that people with an existing viewpoint will consider the market along these lines.

The EU is the world’s largest free trade zone and it has had the weakest economy for decades.Click To Tweet

Conclusion:

However, while many people are tipping Brexit to be a failed venture, there is a lot to be said for looking at the opportunity that will be provided by Brexit in the future.

Brexit Opportunity or Failure

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Brexit Opportunity or Failure

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One Comment

  1. […] this point in time, there is a lot of focus on the EU, particularly in Britain. As we move towards Brexit, anything which shows the EU in a negative light is likely to be latched on, and you can see that […]

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