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Nicholas Bonnifield
Adam Smith
April 23, 2017
Word Count: 1000
Despite most expecting the idea of Britain leaving the European Union to be easily
defeated, when it actually came to vote the citizens of Britain decided to leave the EU. This two
year process that is being popularly referred to as “Brexit” creates uncertainty about the state of
Britain’s economy in the future, as well as in the short term. This is due to the strong economic
ties between members of the EU in terms of trade and fiscal policy. Since the vote in June of
2016 there has not been the catastrophic collapse of the economy that some predicted but rather
Britain’s overall GDP has continued to grow. Other changes in the British economy include a
decrease in business confidence meaning that investing in domestic business has decreased
because many people fear that in 2018 the economy will actually collapse. Also, almost
immediately after the vote the British pound fell in value and continues to fall. Migration in
