World News Tomorrow – UK News
Prior to the referendum many financial and economical experts have been predicting the consequences of a Brexit for UK consumers, internal and external markets. According to OECD studies the UK consumer will pay the consequences through taxes and the loss of unrestricted access to different markets.
According to OECD study’s “This effect will create a negative shock and weaken the GDP for many years.”
“Being outside the EU would further damage trade, foreign direct investment and productivity,” (source OECD)
Yet, despite these studies and the opinions of experts, who have issued warning over warning about the UK leaving Europe, it is yet to be seen what the real results will be. Currently ruled by mostly sentiments over the outcome of the vote, many of the voters remain uncertain about the consequences of their choice.
Whether or not this uncertainty is coming from unforeseen results of the voting, from the fact that the Pound Sterling has today hit a new 31- year low or because the world arena seems to rapidly change towards chaos and destabilisation. The fact remains that the Brexit has yet to be executed.
According to PM Theresa May the Brexit will be effective before the March 2017. The road to that point in time will be filled with uncertainties. Like on EU level where many of the remaining member states have their differences in how to let the UK go. This will impact the way the UK and the EU will find ways to negotiate the Brexit-after mat.
A leaked Treasury document warning of a £60bn bill to pay for a Hard Brexit, as a result of Plunging revenue’s on taxes and growth, has caused new turmoil, according to an article from Independent. In an article published online, the Federation of Small Businesses states that “we are entering an extended period of economic uncertainty.” Urging the Governement to reject this course.
By Editor in Chief