1. Trade and Economy: Brexit has led to changes in trade relationships, border controls, and regulations. The UK's departure from the EU single market and customs union has resulted in the need for new trade arrangements and potential tariffs, affecting businesses and economic dynamics. Some industries have experienced disruptions and uncertainty, and there have been shifts in investment patterns.

2. Business Operations: Companies have had to adapt to new rules and procedures, leading to adjustments in their operations and supply chains. This has required businesses to navigate complex regulatory changes and has resulted in additional administrative burdens.

3. Immigration Policies: Freedom of movement for EU citizens to the UK has ended, and a new points-based immigration system has been introduced. This has implications for businesses and the labor market, as well as for individuals seeking to live and work in the UK.

4. Regulatory Environment: Changes in regulations have affected various sectors, including agriculture, fisheries, and financial services. Businesses have had to comply with new rules and standards, and regulatory divergence between the UK and the EU has created challenges for companies operating across borders.

5. Political Dynamics: Brexit has had significant political implications, including debates over the future relationship between the UK and the EU, the implications for the unity of the UK, and the role of the UK in international affairs.

6. Social and Cultural Impact: Brexit has also had social and cultural impacts, influencing public discourse, attitudes toward immigration, and the sense of national identity.

Overall, the impact of Brexit is multifaceted and continues to unfold as the UK and the EU negotiate their future relationship and as businesses and individuals adjust to the new reality. The full extent of the impact of Brexit may take years to become clear.

Tax become bigger.

Work Market was affected because of new low regarding resident status.

First, trade.  The most obvious and direct impact of Brexit was to reintroduce significant barriers to trade between the UK and its largest trading partner, so it’s here that the impacts should be the most salient. And indeed, the headline result is that the UK’s trade performance has suffered considerably. The Office for Budget Responsibility notes that the UK’s ‘trade intensity’ (trade as a proportion of GDP) has fallen significantly, and considerably more than other advanced economies (OBR 2023).

Most academic analysis suggests that Brexit is at least partly responsible. Using synthetic differences-in-differences, Du et al. (2023) find that Brexit has had a large and continuing negative impact on UK goods exports, with particularly large impacts on smaller firms.  Confirming this with more qualitative evidence, Bailey et al. (2023) find that the “imposition of new non-tariff barriers through Brexit has proved particularly challenging to smaller firms in manufacturing supply chains”.

1. Trade Relations:

   • The UK and the EU negotiated a trade agreement that governs their economic relationship. The deal covers areas such as goods, services, and fisheries.

   • Some businesses faced disruptions due to changes in customs procedures, tariffs, and regulatory requirements.

2. Economic Impact:

   • The economic impact of Brexit has been complex. While some industries faced challenges, others found new opportunities.

   • Certain sectors, such as finance and manufacturing, experienced changes in regulations and access to markets.

3. Borders and Customs:

   • The UK introduced customs checks and controls on goods moving between the UK and the EU, leading to delays at borders.

   • Northern Ireland has a unique status to prevent a hard border with the Republic of Ireland, resulting in a customs border in the Irish Sea.

4. Movement of People:

   • The free movement of people between the UK and the EU ended. New immigration policies were implemented in the UK.

   • UK citizens traveling to the EU and vice versa are subject to new travel rules and requirements.

5. Regulatory Autonomy:

   • The UK regained regulatory autonomy and is no longer bound by EU laws. This has implications for product standards, regulations, and certifications.

6. Impact on Northern Ireland:

   • The Northern Ireland Protocol was established to avoid a hard border with the Republic of Ireland. It has led to certain regulatory differences between Northern Ireland and the rest of the UK.

7. Political Repercussions:

   • The political landscape in the UK has been influenced by Brexit, with debates over the terms of the deal and its impact on the country's sovereignty.

8. Global Relations:

   • The UK is forging new trade agreements with countries outside the EU. The nature and success of these agreements will influence the UK's global position.

It's essential to note that the full impact of Brexit might take years to become apparent, and ongoing developments could have occurred since my last update. For the latest information, it is recommended to consult more recent sources.

MIHAI AGURIDA