“Britain Exit” or Brexit, is referred to the UK’s decision to leave the EU. As UK leaves the EU, there are a number of complications occurring around UK industries.
We’ve created an infographic to visualise the Brexit events, how they affect the price of the GBP and what effect it has on the industries.
The Pound’s value has fluctuated sharply on many occasions since Brexit was put on the table. Former Prime Minister David Cameron announced the referendum in February of 2016. The voting took place on the 23rd of June, 2016, and the results caused Cameron and other senior officials to resign the next day. This resignation resulted in the fastest and sharpest drop in value for the Pound since Brexit began.
We found that the industries to be affected the most, include:
Trading and forex
Tourism and travel
E-commerce (online businesses)
These industries rely heavily on the old status quo and have a painful adjustment period ahead of them. Before we can paint a conclusive picture of the exact effects Brexit will have, we will have to see how Brexit evolves going forward. For example, in the event of a “no-deal” Brexit, UK-based automakers with large markets in the EU could face new levies as high as 10%.
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