Economic consequenses of brexit for the United Kingdom

Sophie Natascha Vasbo

Student thesis: Master thesis

Abstract

In this thesis, I investigate the situation wherein the United Kingdom (UK) withdraws its membership of the European Union (EU), concentrating on the economic consequences hereof. I provide a description of the UK’s history with the EU and the possible frameworks for their future relationship. I produce analyses of the economic changes to UK trade, with a focus on the benefits of the Single Market, the City of London and the financial sector, and the labour market in response to changes in immigration. I discuss the probability of each possible future relationship based on UK and EU preferences, evaluate the consequences for the UK. Overall, my findings suggest that the UK will negotiate a Free Trade Agreement (FTA) with the EU, yet will suffer significant economic repercussions from exiting the Union. This is largely because the UK will have to give up sovereignty in trade for market access, and the UK is disinclined to do so.

EducationsMSc in International Business and Politics, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2015
Number of pages85