INTERNATIONAL RELATIONS AND INTERNATIONAL COOPERATION, pages: 13 - 22, 2022

The Effects of BREXIT on the UK's Economic, Social and Legal System

Doi: https://doi.org/10.58603/NLSC1489

Rezumat: BREXIT is the term used to refer to the United Kingdom’s withdrawal from the European Union. The effects of Brexit on the UK economy have been felt since the referendum on June 23rd, 2016, when the majority of the UK’s population voted to leave the European Union. In the years since the referendum and after the official withdrawal from the EU (as of 31st January 2020 and during the transition period which ended on 31st December 2020), the UK economy has experienced a variety of both positive and negative effects, all affecting the British economic, social and legal system. Some critics say that in the end, it resulted a very particular idea of sovereignty over economic good sense. Others say that the UK's decision to leave the European Union is an act of economic self-harm. The truth is inevitably somewhere in between.