Britain After Brexit Group 3 by Jack Rizzotti

Britain After Brexit Group 3 by Jack Rizzotti https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse What will the future bring? en-us 2021-09-06 12:39:55 UTC 2026-01-17 18:06:03 UTC hello@padlet.com Whither Post-Brexit Britain? 200-250 words jackrizzottimoscow https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1719283216 Brexit has shaken the British economy to its core. Will Britain ever recover? What will need to happen for Britain to gain the economic power it had before Brexit? Write your opinion using cited material. Then comment on three other students' posts, agreeing or disagreeing, and offering a supported argument. ]]> 2021-09-06 12:51:18 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1719283216 Vladimir Lebedev HW vladimirlebedevfb https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1719720790 In my personal opinion, Brexit was right decision of British government even if it caused all these economic problems. It is hard to imagine what could happen with Britains if immigrants continued come to England.
However, Brexit has some disadvantages which British economy has to face with. First off all, according to statistics uncertainty around Brexit reduced investment by businesses by approximately 6 percentage points. Secondly, a number of studies found that Brexit-induced uncertainty about the UK's future trade policy reduced British international trade from June 2016 onwards.
Also, a 2019 analysis found that British firms substantially increased offshoring to the European Union after the Brexit referendum, whereas European firms reduced new investments in the UK. That's all may sound critically bad, but it is a well known fact that Britain have always have strong economy and 6% less investments may not seriously damage it, British businessmen should believe in this power and keep their money inside their country and it is essential part of the way, how Britain can overcome this crisis. Also, Britain need to improve it's trade policy and develop their new trade relationships with other countries especially with EU countries. Rules of the game has changed and they have to make new agreements and contracts. There are many new possibilities for the British companies which they can use to increase their incomes. EU trade laws were not as valuable as their new business freedom. And soon it will positively affect on their economy.

Sources: https://en.wikipedia.org/wiki/Economic_effects_of_Brexit://en.wikipedia.org/wiki/Economic_effects_of_Brexit://en.wikipedia.org/wiki/Economic_effects_of_Brexithttps://en.wikipedia.org/wiki/Economic_effects_of_Brexithttps://en.wikipedia.org/wiki/Economic_effects_of_Brexithttps://en.wikipedia.org/wiki/Economic_effects_of_Brexit]]> 2021-09-06 16:46:00 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1719720790 DanielBuladi https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1719976342 Daniel Buladi

Many people have heard about the word "Brexit", however not everyone knows what does it mean. Brexit is the abbreviation of "Britain exit", which refers to the decision of the United Kingdom to leave the European Union. The process started on June 23, 2016 and only on February 1, 2020 UK seceded from the European Union. Brexit affected many sectors including the economic one. Firstly, lack of labor force. Under EU law, a citizen of another EU nation could decide to move to, live and work in the UK with no restrictions. Now it is a visa-free entry into the country only for 6 months for European Union citizens. Secondly, brexit badly affected the UK's trade with the outside world. The initial reduction in the volume of British trade with the EU in the first months of 2021 reached 40% for exports and 28%for imports of goods, while the reduction in trade with other countries of the world was 20%.
Like other counties UK suffers from the coronavirus. UK GDP( gross domestic product) fell by a record 20.4% in the second quarter of 2021.
Answering the question will Britain ever recover, I think it will as soon as the situation with the pandemic gets better. All companies will start working normally and investors will begin to put up money in the development of the economy. In addition, as a result of Brexit, the UK has gained independence of laws from Europe, which will help to stimulate the economy better by implementing more detailed support for small businesses and first-time entrepreneurs.

References:
https://en.wikipedia.org/wiki/Brexit
https://corporatefinanceinstitute.com/resources/knowledge/economics/brexit/
https://ru.wikipedia.org/wiki/Выход_Великобритании_из_Европейского_союза#Этимология
https://www.ig.com/en/financial-events/brexit/pros-and-cons-of-brexit

]]> 2021-09-06 20:20:13 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1719976342 Anna Fadeeva https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720005268 Brexit is an abbreviation of the phrase Britain exit, which means the termination of the UK's membership in the European Union and the procedure related to it. The final separation of the UK from the European Union took place on December 31, 2020.
Unfortunately, this decision led to quite dramatic events. For example, when it became known that Brexit had become a reality, the pound fell to the level of $ 1.37 - the lowest that in the last three decades. The Food and Drink Federation also found out that the level of export of goods to Germany, Italy and Spain fell by a third over the past year. Other factors undermined the UK economy was a shortage of labor — both on farms and manufactures, and in transport companies that deliver goods. The question of the shortage of staff arose as these places were occupied mainly by migrants.
Despite all these events, I still think that in the long term Brexit will influence the British economy in a positive way.
Firstly, independent regulation of migration policy will impact the further development of the country positively (in 2016 942000 citizens of Eastern European states and 791000 Western Europeans worked in Britain. The social infrastructure and the state's budget could cope with so many people hardly).
Secondly, Britain may not take into account or even ignore the common interests of the EU now. Presently the UK can be guided by its own interests and needs therefore its economic policy must be profitable primarily for itself. The country has become more independent in economic matters since it doesn’t reports to the European Commission on economic issues.
Moreover, the absence of payment of membership fees will allow the state to remove one of the items of expenditure from the British budget.
In addition, membership in the European Union limited Britain's trade relations with other countries. After leaving the EU, the UK is able to trade with the Eastern countries and the United States in any quantity.
All in all, I believe Britain has excellent prospects and will soon be able not only to reach the former level but even to raise it.
Sources:
https://lenta.ru/news/2021/09/03/brit_lose/
https://spravochnick.ru/mezhdunarodnye_otnosheniya/posledstviya_breksita_dlya_velikobritanii_i_es/
https://www.bbc.com/russian/features-47006623]]> 2021-09-06 20:51:17 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720005268 veraastakhova2004 https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720018628 Vera Astakhova HW
I am not a real politician, but ,in my opinion, Britain had only one way to save their economic and political independence, and this was the departure from EU (Brexit).
Despite the fact that the economy of Britain has undergone major changes, this country is still has one of the most developed economic structure and it is in the top 5 countries with the largest GDP(the GDP of Britain is 1,7 times bigger than Russian's one).
To gain the economic power which Britain had before, the government has to enter into more economic contracts with different powerful countries like USA. Also, Britain should try to continue to be in a good relations with countries from EU to improve its trading abilities as an independence country.
The colossal trouble of being in the EU for Britain was immigration policy which leads it to the unlimited amount of immigrants who occupied the majority of jobs and thereby undermined the country's economy. Due to the escaping from the EU, UK now has an opportunity to pursue its own economic politics. In the nearest future British companies will get way more opportunities and rights which will help them to increase their income.
I believe in the economic power of Britain!

Sources:
https://www.bbc.com/news/politics/uk_leaves_the_eu
https://www.euronews.com/2021/06/23/brexit-draft-deal-first-of-many-hurdles-to-a-smooth-exit
https://www.bbc.com/russian/features-51274232]]> 2021-09-06 21:06:08 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720018628 Vlad Dmitriev vad2003 https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720078196 With no doubt Brexit is one of the most significant moments in the history of the United Kingdom over the last 50 years. The vote occurred on June 23, 2016. Finally, the residents decided that the benefits of free trade weren't enough to offset the costs of free movement of immigration. It is a bit surprising that the vote was 17.4 million in favor of leaving versus 16.1 million who voted to remain (practically 50/50).

Now let’s talk about the consequences of Brexit and about how it is likely for the UK to recover. To begin with, The UK must pay a "divorce bill" of 25 billion pounds to the EU by 2057, what can become a real problem, because the UK’s economic growth slowed from 2.4% in 2015 to 1% in 2019. Moreover, the British pound had a great recession from $1.48 before the voting to $1.36 the day after this landmark event and many businesses moved to EU. However, I believe that the UK government made the right decision, because the endless flow of immigrants could bring the UK even more problems. In my opinion, The United Kingdom is likely to recover and to do even better, because already in May 2021 total goods exports of 27.9 billion pounds, excluding precious metals, were the highest since January 2020. What is more, according to different prognoses, when the problem with the COVID-19 will be solved completely, UK’s economy will soar as the government will be able to trade with western countries practically without limits.

All in all, I can definitely say that the United Kingdom will recover from the Brexit very soon. Everything will be fine:)

Sources:
https://www.reuters.com/world/uk/uk-still-imports-more-outside-eu-than-bloc-gap-narrowing-2021-07-09/

https://www.thebalance.com/brexit-consequences-4062999

https://journals.openedition.org/osb/2294

]]> 2021-09-06 22:20:32 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720078196 Ksenia Matyukhina kkmatyukhina https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720091912 To answer the question on whether Britain will ever recover from Brexit I think it is worth to analyse what the situation was before the referendum in June 2016 and after the actual exit of Britain from the EU in February 2020. According to The World Bank data GDP of the United Kingdom indicates the situation is unstable, but nevertheless as of 2020 the UK has the 5^th biggest GDP in the world, which is not different from its position before the Brexit.

Besides, we should keep in mind that 2020-2021 data is impacted a lot by COVID-19 pandemic and, as consequence, by the global economic crisis. The supply chain and the labour crises, which we can currently observe in the United Kingdom, are the result of both Coronavirus related restrictions and British exit from the European Union.

So, what should happen for Britain to gain the economic power it had before Brexit?

In my opinion, Britain should come to an agreement with countries from the EU, so that export can recover to the level it was before Brexit (note: more than 50% of the UK exported products used to go to the European Union). Otherwise, Britain should explore new markets for its existing products or invent something new that will be valuable for other countries. Moreover, Britain may reconsider its immigration policy in order to tailor it to the needs of the economy.

I think all of that is viable and have no doubts in recovery of British economy.

Sources:

https://www.theguardian.com/business/2021/sep/06/uk-building-firms-materials-staff-construction-industry

https://www.theguardian.com/business/2021/aug/29/business-group-says-investing-in-uk-workers-wont-solve-labour-crisis

https://www.worldbank.org/en/country/unitedkingdom

https://data.worldbank.org/indicator/NY.GDP.MKTP.CD

https://www.theweek.co.uk/brexit-0

]]> 2021-09-06 22:37:34 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720091912 Elizaveta Zakharova https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720105983 How did Brexit influence the British economy? It had both positive and negative impact on it.

Let’s talk about the positive side of this process at first. Many sectors of the economy have long maintained a strong interest in escaping EU regulations, and Brexit let them do it. Also there are two important fields in which Brexit has advantages for capital: evasion of increased corporate taxation; and continuing freedom for high-risk finance and criminal money capital.

But still there are a lot of drawbacks of Brexit. Mainly, around 45 per cent of UK exports and imports are with the EU. Trade in goods has been free of tariff and non-tariff barriers on condition that each product meets minimum quality specifications, common labour market and ecological regulations are enforced. For manufacturing production within Britain, this framework is essential. That is why the dramatic 41% export drop is no wonder.

We should examine the long-term Brexit effects as well. By June 2018, gross domestic product had risen by more than 3%, unemployment had fallen by 280,000, and the average house price had gained more than 7%, which is a positive impact.

Then came the COVID-19 pandemic. The outcome for Britain was dramatic: GDP shrank almost 10% last year, the deepest slump since the Great Frost of 1709. The economy has only partially recovered from the huge losses incurred during the first lockdown last spring, leaving Britain further below pre-pandemic levels of output than any other Group of Seven nation. This fact suggests another drawback of Brexit as well.

How did the country’s government respond to such a big loss? British Prime Minister Boris Johnson is attempting to rewrite the Brexit deal he signed with the European Union. Then arises a question: will the EU countries trust Great Britain again? To be honest, the UK government's capricious behavior is a bad look, but it won't necessarily prove fatal to future trade alliances. It could, however, weaken its negotiating position. Therefore, it is not a surprise that EU officials have already rejected the UK call for a renegotiation.

To conclude, this process had more negative than positive influence on the country’s economy, its most important areas, and British reputation has deteriorated seriously, therefore Great Britain will never be able to recover and gain the economic power it had before Brexit.

Sources: https://www.redpepper.org.uk/how-business-benefits-from-brexit/

https://www.theguardian.com/commentisfree/2021/mar/16/brexit-deal-bad-evidence-trade

https://www.bloomberg.com/news/articles/2021-04-09/100-days-of-brexit-was-it-as-bad-as-project-fear-warned

https://edition.cnn.com/2021/07/24/business/brexit-deal-northern-ireland-gbr-intl-cmd/index.html

]]> 2021-09-06 22:54:15 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720105983 Siyukhov Eldar easiyukhov https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720140376 Brexit was the exit of the United Kingdom (UK) from the European Union (EU) on January 31, 2020. this event caused some effects on the UK economy.
So, the EU accounts for half of all UK foreign trade, two-thirds of it depends on food supplies from the continent, and its industry is woven into European production chains, the rupture of which could lead to the withdrawal of British factories to other countries and the loss of tens of thousands of jobs. In addition, following Brexit, the UK has experienced labor problems, because EU residents cannot work freely in the there.
But,in my opinion, Brexit has shaked UK economy not so much. So,in the coming years, losses from Brexit will exceed 100 billion pounds a year. It's not fatal in a 2.6 trillion economy. also the UK could start using advantages of brexit.
For example,now, the UK has released from its responsibility to the EU, and can begin to freely trade with other countries in order to restore foreign trade.As for the production,to my mind, it damaged more from the pandemic than brexit, and the UK needs to fight virus to restore it.
I sure this is enough to restore economic power of the UK.

^{https://en.wikipedia.org/wiki/Brexit}^{https://www.bbc.com/russian/features-55444078}^{https://en.wikipedia.org/wiki/Economic_effects_of_Brexit}

]]> 2021-09-06 23:27:02 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1720140376 Daniil Borisov db220903 https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721186112 Brexit is the most significant moment in the 21st century for the UK and all of Europe. The British pondered for a long time about leaving the EU and there are many reasons for this. The first one is migration policy that caused the flow of migrants from Eastern Europe who wanted to get to the economic center of Europe. The social infrastructure and budget of the country could hardly withstand such a load. Secondly, the contributions of the EU member states to the budget of the union are not equal. For many years, the UK, as one of the most developed countries in the European Union, has been paying large contributions without receiving any tangible benefit from it - this is exactly what many ordinary Britons think. The accession to the European Union has jeopardized national identity, and this is not an empty phrase for the British. They value their way of life, which has evolved over centuries, and are ready to go to great lengths to preserve it.
Talking about the consequences, I suppose that Brexit has more pros than cons. Small businesses suffered, but the independent country governance is much better for one of the world's major economies. They will be able to focus only on their own interests and, of course, cooperate with other countries and the EU too. This, along with foreign direct investment in the economy stimulating development, will allow for a quick recovery after leaving the EU.
https://rg.ru/2020/01/31/brexit-pochemu-velikobritaniia-vyhodit-iz-es-i-k-chemu-eto-privedet.html
https://en.wikipedia.org/wiki/Brexit#Background:_the_United_Kingdom_and_EC/EU_membership]]> 2021-09-07 07:26:01 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721186112 https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721215223 Aleksandr Necheporenko

Brexit is the process of England leaving the European Union. It was in 2016. Brexit has a lot of consequences on British economy. Firstly, in accordance with the concluded agreement with the EU, the total amount of the UK's public debt for the obligations assumed during its membership in the EU will amount to more than 40 billion pounds sterling. The exchange rate of pound to the dollar immediately fallen from 1.5 to 1.32.

Secondly, the trade sector suffered the most. The volumes of import and export have fallen off by 40% and 28%. The U.K. is no longer part of the customs union and single market with the EU. Instead, it has a trade agreement that allows zero tariffs and zero quotas on goods traded that comply with the appropriate rules of origin.

It is also worth noting that uncertainty over Brexit slowed the U.K.'s economic growth from 2.4% in 2015 to 1.0% in 2019.23 The U.K. government estimated that Brexit would lower the U.K.’s economic growth by up to 6.7% over 15 years.

However, some positives cases should me mentioned here. A UK outside the EU would have the capacity to better control its immigration and prioritize British citizens over the citizens of other European states.

Answering the question, i think that everything know is about the end of the pandemic. During coronavirus it is impossible to develop the economy of country. After the pandemic Britain can sign new trading contracts with EU which will help to recover from fell of import and export. Another opportunity for Britain companies is to sign trade agreements with countries outside the EU. A lot of British workers will return to Britain after the Brexit which leads to raise in amount of qualified workers inside the country.

References:
https://ru.wikipedia.org/wiki/Выход_Великобритании_из_Европейского_союза#Последствия
https://www.thebalance.com/brexit-consequences-4062999
https://netivist.org/debate/consequences-of-brexit-pros-and-cons]]> 2021-09-07 07:40:18 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721215223 Alina Polinko https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721326688 Brexit is abbreviation of Britain exit. This term is used to describe the UK’s decision to leave from European Union. The final separation occurred on January 31, 2020. Unfortunately, this decision brought dramatic consequences. For example, the decline in British trade with the EU reached 40% for exports and 28% for imports in the first months of 2021. Also, the pound fell from 1,5 to 1,37 against the dollar USA, after the announcement of the results of the referendum on June 23, 2016 about the UK's exit from the EU. However, we could see increase retail in July, 2016, because the fall of the pound brought many foreign buyers.

In my opinion, Britain will recover when situation with pandemic calm down and all business will start working as before. Because after Brexit Britain has opportunity to develop without depending on EU. For example, now government decides with which countries they will trade.

Finally, what will need to happen for Britain to gain the economic power it had before Brexit? To begin with, I think government should rebuild the economy of country for yourself. In addition, Britain should start supporting small business. Moreover, Britain needs to establish trade with other countries as quickly as possible. In my opinion, all this things together will help to restore the economic power.

Sources:
https://peopletalk.ru/article/breksit-plyusy-i-minusy-dlya-velikobritanii/

https://www.investopedia.com/terms/b/brexit.asp

https://en.wikipedia.org/wiki/Brexit

]]> 2021-09-07 08:36:14 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721326688 Malakhov Egor https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721445019
Mmm, Brexit... I remember, that when I heard about this first, I was watching The Game of Thrones and Iron Islands announced about exit from the kingdom. Ha-ha.

When we talk about Brexit and refer to bad results, someone is thinking, that they were unpredictable consequences. But they were not so.

Political strategy, which we call “protectionism”, always faces such problems in Short-Run, because companies, which imported something, pay either duty or difference in prices. And companies, which exported product, lose customers, who are not ready for new prices.

It is important to understand, that the Government of England suggested poorer results. I wanted to write, that it is not good to look at the result and then predict. Now we are looking on “price for Brexit”. Why England pay for it? At first Great Britain got versatility. It got more freedom. Now it can choose more strategy than in the past. But how successful will it be – it is answer on the today question. England got instruments.

I believe in the future of England and in confident improvement of the situation. The main thing that can interfere it is brain drain. London is very strong, because it has the best specialists. According to the Solow model it can strike on potential GDP

In conclusion, the question of Brexit is a matter of faith, because we seat in conditions of lack of information about political strategy in 20 years.

https://en.wikipedia.org/wiki/Brexit

https://geopoliticalfutures.com/geopolitics-ice-fire/

]]> 2021-09-07 09:42:07 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1721445019 GMiroslav https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1722414098 When I first heard the term 'Brexit' I had no idea what it could be. But the answer was quite simple. Brexit is a portmanteau of 'British exit' and it is used in order to describe the withdrawal of the UK from the EU.
While I was doing research I came to some conclusions I want to share with you.
Obviously, british economy is going through a really tough time right now. It was clear from the very beginning of Brexit that the UK would need a couple of years to stabilize the situation. The reduction in trade with a number of countries, problems related to import and export and lots of other complex issues came down on Britain together. However, I am sure british government was more or less ready for the mentioned events. But what it definitely did not wait is the world crisis caused by covid-19. It exacerbated all of existing problems. The UK economy is still below its pre pandemic levels. The economic impact of covid-19 has hit Britain particularly hard in comparison to international counterparts.
Despite the fact that british politicians claim that everything will be great in the nearest future, like in the past or even better, I am convinced the UK may not regain its stability any time soon.

https://www.tuc.org.uk/research-analysis/reports/impact-covid-19-and-brexit-uk-economy
https://en.wikipedia.org/wiki/Brexit
https://www.interfax.ru/world/743826
https://lenta.ru/news/2021/09/03/brit_lose/
https://ria.ru/20210101/brexit-1591742948.html
https://www.forbes.ru/finansy-i-investicii/392235-teper-bez-britanii-kak-brexit-izmenit-evropeyskie-rynki-kapitala]]> 2021-09-07 16:38:08 UTC https://padlet.com/jackrizzottimoscow/rsb5qaara1clofse/wish/1722414098