Almost three years after the UK’s momentous EU referendum vote, multiple Brexit Secretaries and three rejected deals, the question remains: what exactly does the UK want?
The UK’s financial services sector is deemed to be one of the most vulnerable to the impact of Brexit, and the consequential effect of the rest of the UK economy could be devastating. Despite benefitting from access to the Single Market, a significant proportion of the financial services industry voted ‘leave’. But rather than being driven by anti-immigration or xenophobic sentiments, research indicates it was a rational assessment of the cost and benefit of the EU membership, influenced by the post-crisis regulatory reform. The industry is dis-proportionally impacted by Brexit due to the divergence of business models within the industry, based on the relative reliance on domestic, international or European trade.
Brexit – The Benefit of Hindsight analyses a number of economic indicators to answer the unanswerable question: what does the UK want? Will the UK economy suffer in the uncertainty surrounding our future or will we emerge stronger?