Question

List and explain four changes in the United Kingdom economy that result from the country’s exit from the European Union (Brexit).

Answer 1

Answer: The four changes in the U.K economy that result from the country’s exit from E.U are

1. Inflation: in the country has been on the rise as the rules for doing business with E.U are expected to become high and the supplies inside the country from E.U have therefore started to get affected

2. Labor shortages: The labor shortages is rising as it is expected that after Brexit, the Visa norms for the people from E.U are going to become tough and hence many workers from E.U who worked in U.K have started to migrate

3. Slow Down in economic growth: The economic growth in the country has taken a hit and the economy is growing at a slower rate as uncertainty about Brexit is affecting businesses

4. Negative Consumer sentiment: The rise in inflation has resulted in the rise of the cost of living in U.K. This has affected negatively on the consumer expenditure as the house hold expenses have risen because of inflation