The largest impression from Brexit would be on the United kingdom, even although it will cause a considerable influence on the EU. Almost all of the UK’s trade would somehow need to be negotiated. Trade is one of the vital things in the British economy, this is why everybody needs to make sure that they do not underestimate the challenges that possibly come. Brexit would make the Britain to lose preferential access to different markets which are covered by 36 different trade agreements with fifty eight countries negotiated by the EU. The United kingdom could have then have to enforce higher traffis on imports from those countries and they would need levy their own surcharges on British exports. This means that during the occurrence of Brexit they would have to obtain one. These negotiations can take years to set up. It’s extremely complicated and complicated to negotiate these trade agreements; as well as time consuming. Accountants in Chatham say- Once Uk need decided they are ready to negotiate with other consumers, it doesnt mean that the different countries will want to or be ready to negotiate deals with them. One of the bad results of Brexit would be that it might be damaging for the Britain and the EU, as they possibly either reduce trade or increase the cost of their deals with each other. Brexit could reduce the appeal of the Britain as a gateway to Europe; it possibly also lead to a decrease in investment from the rest of the EU.
Even though there are many negative effects of Brexit there are good ones too, such as things which will not be affected such as the language. The overall impact Brexit can have on the economy is still not 100p.c known as it could go one of many ways. It all depends on many other decisions within the UK and Europe, that still yet need to be made. It has been worked out that by 2030, the worst case situation is that the GPD would be around 2.2% lower, than it would if the UK stayed in the EU. The greatest likely situation is that by the year 2030, The Britain managed to make a free trade agreement with the EU. As well as if it opens up approximately completely to trade with the rest of the world, United kingdom GDP would be approximately 1.6% higher than if it had remained within the EU. A further possible outcome of Brexit could be that the United kingdom banking industry loses entry to the single market and major banks would consider relocating to the Euro market. A bad consequence of Brexit might be serious political resistance within the UK.