Brexit In Leaving The EU

Brexit is an abbreviation for “British Exit”. The referendum which decided Britain’s future within or outside of the EU, took place on the 23rd June 2016. The leave campaign received 52.5% votes meaning that over the period of two years Britain would eventually leave the European Union once Article 50 of the Lisbon Treaty is evoked. Leaving the EU will take some time to complete as the UK and the EU will have to negotiate new laws and regulations. The EU laws and regulations will continue to be enforced in the UK until Britain ceases to be an official member of the EU. So the UK will continue to follow EU treaties and laws but they may no longer take part in any decision making.

Brexit had an immediate effect on the stock market and the pound sterling causing it to lose its value by 10% - the lowest since the 1980s. Over the next few months and years, Brexit will start to take some effect on different industry sectors such as:

•Fashion and Retail

•Finance

•Car Manufacturing/ Industry

•Construction

•Manufacturing

•Fishing Industry

An advantage of leaving the EU is that the UK will be able to decide and negotiate its own rules and legislations. This will benefit the fishing industry because it is heavily regulated by the EU who have put laws in place to make

Although there will be less freedom of movement, there will be more opportunities for skilled British workers to get jobs which they would then get taxed on putting money back into the UK economy. So there is more taxes been paid that can then be redirected towards public services such the NHS. But the british economy lost $24.9bn in 2015 from migrant workers who sent money back home. However the referendum lead to decline in remittances so more money is staying within the UK this is because the sterling lost value so the money that was being sent back was worth