Brexit will give the UK economy new opportunities

Significance

The main impacts of Brexit will be new tariff and non-tariff barriers, a new immigration regime that will favour medium- and high-skilled people from outside the EU, the ability to strike new trade deals, and greater regulatory flexibility.

Impacts

• The United Kingdom’s domestic tourism industry could benefit as travelling to the EU will become more expensive.
• By “taking back control” of state aid, the UK government will come under greater and more sustained pressure to subsidise companies.
• Sectors adversely affected by the new immigration plans will have to invest strongly in new recruitment methods.