As I am from Scotland, I have many opinions of Brexit and how it impacts many places in very different ways, however this post is not about my opinion. I have never really looked at research and article about Brexit, so it will be interesting to see if it has changed my views and feelings. The European Union is an economic partnership that consists of 28 European Countries and was formed after World War Two. It supports the countries in areas of trade, employment, travel and ‘economic co-operation’ (Hunt, 2018). On Thursday 23rdof June there was a vote to ended up in the UK leaving the European Union, leaving winning with 51.9% of the overall vote. The process of leaving was put in place by Theresa May on March 29th, 2017. The UK is scheduled to leave on Friday 29thof March 2019 at 11pm Uk time. Up until this point everyone in the UK is going to be completely divided on this issue.
The main cause of the vote and Brexit is the financial impact it has on the European countries. It was announced that in November the Bank of England raised its interested rates. This is set to be a constant increase which will result in the “economy heading for a bumpy few years” (Musaddique, 2017). Overall the UK economy has been slowed since the vote and an extra 25 billion pounds is set to be spent to boast the economy. The level of business investment is set to drop around 25% in 2019, meaning that less businesses are looking to move to the UK as it will be harder to trade within the European Union. Again, impacting the UK. Since the vote financials have estimated around, “24 billion pounds hit on the economy, amounting to a ‘Brexit cost’ of 450 million pounds a week or 870 pounds per household” (Giles, 2018). Before the vote the UK economy was on a strong growth but since the vote, economic growth has tailed off. Since the UK votes as a whole the main decision comes from the English people as they have a much larger population. From the overall vote to stay in the EU 62% of Scottish voters decided to stay in the EU (Kettle, 2018). David Cameron the Prime minister of the UK held a vote to settle the dust thinking that nobody in their right mind would what to leave the EU, he was very wrong.
The reason people voted to leave the European Union was not related to finance in the slightest, but in an attempt to prevent immigration across the European Union. In actual fact many people who voted to leave the EU because of Immigration are uneducated and voting for the wrong reasons. “There has been a jump in the number who are positive about the economic and the cultural impact of immigration” (Malik, 2018). The minute the vote was cast the entire UK started to worry and try to take preventative measures. Now 2 years down the line the impacts don’t seem to drastic, and the economy looks to be on the mend. According to the BBC article “230,000 more people arrived in the UK than left in the year following the Brexit result/vote” (Casciani, 2017). It is clear that people are coming from other countries mainly in the EU for the main reason of work, people in the UK don’t like this. They are still under the impression that only British people deserve to work in Britain. Don’t want diversity and their only concern is preventing terrorist attacks, which is understandable in todays world. What the Yes (to leave) voters didn’t take into account was the economic impacts on the country. Overall I think the vote was a bad idea for the UK and many people just jumped on the bandwagon and thought change would be the best thing, so far it hasn’t been.