Post-Brexit, a Britain in decline
Much has changed in the United Kingdom since January 31, 2020 when it withdrew from the European Union.
Why did Britain leave the EU?
- High Immigration- One reason was feeling that EU immigration was too high.
- Drain of power and money-There was a feeling that too much money and power was going to the EU.
- Trickle-down effect- All the prosperity and crisis happening in the EU trickles down and affects all the countries in the Union which was not much appreciated by some UK nationalist.
Britain’s situation post Brexit
- Healthcare- Senior doctors of the National Health Service would go on a two-day strike over pay for the first time in 50 years to reverse deep cuts in their salaries. This would considerably worsen healthcare in the UK.
- Shortage of workers- The Migration Observatory at Oxford University explains that in sectors like hospitality, transport and storage, which have relied heavily on EU workers, there is an immense shortage of workers.
- Recession- It’s well reported that since Brexit and leaving the EU, as of now, the UK faces a recession and cost of living crisis.
Impact of Brexit on India
- The expected drop of the pound-It is expected that post Brexit the value of the pound will decrease drastically. As per financial experts, this financial plunge can benefit the Indians as it will decrease the education cost.
- New Immigration policy- The new immigration policy of the UK has been seen as beneficial for the Indians. The new immigration policy is going to benefit skilled Indians exploring job opportunities in the United Kingdom.
- Stock Markets-With high uncertainty in the UK and EU stock markets, one can also expect the Indian markets to benefit from it.