Brexit Aftermath: What Changes Overnight After the UK's Departure from the EU

With the United Kingdom officially leaving the European Union, many have wondered what changes will occur immediately. The reality is that the transition has been gradual and negotiations are still underway, but there are several potential changes that businesses and individuals should prepare for.

The political landscape following Brexit is uncertain, but it's worth exploring the potential impacts on various sectors and daily life. Many promised benefits from Brexit have yet to materialize, and the actual changes are still under wraps, thanks to secret negotiations and social distancing measures.

Business Impact of Brexit

Boris Johnson, the UK's Prime Minister, recently stated that small and medium-sized enterprises (SMEs) in the UK will begin exporting to Commonwealth countries due to the improved trade relations. However, as pointed out by many, the logic behind this statement is unclear. While this move might open up new markets, it also means navigating stricter World Trade Organization (WTO) rules and dealing with a more complex and bureaucratic process.

The implications for businesses go beyond just exporting activities. The UK's departure from the EU could lead to increased transportation costs and stricter documentation requirements. This may result in higher prices for imported goods, which make up a significant portion of what is sold in UK shops. Additionally, the availability of European labor, which has traditionally been cheap, will decline, leading to potential shortages in the NHS (National Health Service) and affecting other sectors that rely on such labor.

Impact on Individuals in the UK

The changes brought about by Brexit also affect individuals' daily lives. Free healthcare access in the EU will no longer be available to UK citizens in the near future. Staying in the EU for more than 90 days will also become more challenging, requiring additional documentation and bureaucratic processes. These new restrictions will lead to greater congestion on roads near ferry crossings and airports, resulting in significant delays.

The cost of imported goods, a majority of which are sold in UK shops, could increase, making them more expensive. With the loss of the EU labor market, the NHS and other sectors relying on European workers will face chronic staffing issues, especially during the ongoing COVID-19 pandemic. Personal and working rights may also be severely curtailed to favor more stringent employment practices reminiscent of sweatshop conditions.

Mass Unemployment and Economic Changes

A significant impact of Brexit is the potential for mass unemployment. As international companies look for more favorable locations within the European Union, many may choose to relocate their production to other EU countries. This shift could result in the closure of UK-based production facilities and further unemployment. The UK government will likely attempt to mitigate economic downturns by increasing taxes, particularly among the working class, to subsidize the costs associated with Brexit and other policies.

It's important to note that many of these changes are still in the planning stages. Official decisions and negotiations will continue, and the true impact of Brexit on the UK will become clearer over time. As more details emerge, businesses and individuals will need to adapt and prepare for the new realities of UK-EU relations.

Stay informed about ongoing developments and consider seeking professional advice as you navigate the changes brought about by Brexit.