2020 inaugurates a very different decade for the United Kingdom. Since they just left the European Union, citizens must expect a structural change that reflects a structural disruption. Today’s post will discuss exactly this. We are going to talk about how the government expects that Brexit will fix the UK’s long-term problems. We know that many people are mourning the decision, but we also must consider the positive stuff the UK can expect. Remember that the UK left the EU to make changes that would be hard to do if the country stayed.
Considering that the British economy is malfunctioning, leaving the EU seemed to be good in order to have the power to make decisions. Noice that the UK’s growth rate has been slower than it was in the decades preceding entry. In terms of changes, according to Boris Johnson, the UK will be leaving the single market and the customs union. By doing that, it will be able to set its own regulations and cut its own trade deals. Now that you know that, let us take a look in measures that may help the UK to improve its economy.
Will Brexit will fix the UK’s long-term problems? (Source: InfoMoney)
Understand how Brexit will fix the UK’s long-term problems
Before telling you how Brexit will fix the UK’s long-term problems, it is important to define what those problems are. Generally, we are talking about big trade deficits, a lack of competitiveness, and weak investment. Check what are the possible solutions that will help!
Did you know that the UK is one of the world leaders in artificial intelligence? It is and, with Brexit, the nation could seize a competitive advantage once it can set its own regulations. With respect to competitiveness and investment, working towards developing artificial intelligence will boost the economy of the UK. Besides, the government is wondering if they will use the freedom from EU state aid and procurement rules to help to manufacture. The measure could help UK citizens to get more job opportunities.
Finally, something to consider with Brexit is the creation of more policy space to create. If you are not submitted to an external regulation that prevents national creation, somehow, it is easy to promote national ideas. Taking all this into consideration, it really seems that Brexit will fix the UK’s long-term problems. However, how do you feel about it? If you want to keep reading articles on the Economy of UK, continue to read our material!
Source: The Guardian