Brexit

Question 1

What are the 5 main consequences of brexit for businesses

Answer 1

• loss of free movement of labour
• loss of free trade
• UK can set its own rules
• no more financial contribution to the EU
• no more EU grants to the UK

Question 2

development of loss of free trade

Answer 2

harder for uk businesses to export to EU- higher costs, more laws
harder for EU to export into the UK- more limited product ranges/ different price ranges

Question 3

development of free movement of labour

Answer 3

businesses may struggle to find suitable employees,

wages may become more competitive

Question 4

development of UK’s own laws

Answer 4

less ‘red tape’ for the UK