Janice Morphet, author of Beyond Brexit, out today, warns that without due consideration of all the challenges that lie ahead, Brexit poses a real threat to UK economic and social stability.
In this article Professor Morphet looks ahead to what the coming months could bring, and suggests priorities going forward.
“As Brexit is a negotiation, it is a dynamic process.
The Prime Minister took this essential position last July and spent her first six months in an enigmatic ‘Brexit means Brexit’ mode.
This allowed some space for the machinery of government to be realigned and the new departments to lead on Brexit – International Trade and Exiting the EU – to be established. But what does the future hold?
The loss of economic security
In terms of economic security, the effects of Brexit on the UK economy have started to pile up – the loss in the value of the pound in the first days after the referendum equated to the value of UK contributions to the EU for fifteen years.
“The loss in the value of the pound in the first days after the referendum equated to the value of UK contributions to the EU for fifteen years.”
Deals have been offered to Nissan in Sunderland by the government which have appeared to transgress state aid rules, although more recently the company has suggested changing its mind about remaining in the UK. Asked about investment in the UK, a Chinese source commented that, before the referendum, the UK was a door to the EU and now it is only a door.