The Consequences of Brexit: When Will We See Full Benefits?

Since the UK's departure from the European Union, the implications have been a topic of much debate. This article explores the delayed impacts of Brexit and addresses the question of when we can expect to see the full benefits.

Reactions to Brexit Changes

The initial optimism and hope for a 'better' Brexit under Kier Starmer's leadership have proven to be misguided. Starmer's shift in stance to maintaining his 'leave' position rather than seeking a rejoin to the EU, the Single Market, or Customs Union has disappointed many. Despite the UK economy's ongoing struggles, the response has been evasive, focusing on vague promises rather than concrete actions:

“I have no plans to rejoin the EU nor the Single Market or Customs Union I just want to make Brexit better.”

This approach suggests a reluctance to address the real issues arising from the initial decision to leave, leading to continued uncertainty for many Britons.

Historical Context and Economic Perspectives

Despite the initial claims that the decision to leave the EU would have no negative effects, history has indeed shown otherwise. The UK's exit from the EU has had several significant repercussions, particularly in the economic domain.

When the UK left the EU on January 31, 2020, the value of the euro faced a significant drop, from 94% of the British pound to 84%. Additionally, the EU's economy, which once equaled that of the United States, has shrunk by approximately 20% while its population has significantly increased, making it less competitive.

Current State and Future Prospects

The benefits of Brexit are not immediate, and they will take time to materialize completely. As a sovereign country once again, the UK has numerous advantages, but there are also ongoing challenges.

One of the most significant advantages of Brexit is the UK's newfound ability to control its own policies and decisions. This includes the freedom to set farming and fishing policies independently, a power that was previously under EU control. This sovereignty allows for better protection and management of wildlife.

However, the EU continues to resist these changes, highlighting the ongoing challenges of fully reaping the benefits of Brexit. The UK's journey towards a complete realization of these benefits is expected to take 10 to 15 years.

Conclusion

The consequences of Brexit are multifaceted and ongoing. While immediate benefits have yet to materialize, the long-term advantages of greater sovereignty and control over domestic policies are becoming more evident. As the UK continues to navigate its post-Brexit journey, it is important to remain patient and focused on the possibilities for the future.

Keywords: Brexit, Consequences, UK Economy