Advantages and Disadvantages of Brexit

Brexit is the term used to describe the withdrawal of the United Kingdom from the European Union. After years of negotiations, the UK officially left the EU on January 31, 2020. The decision to leave the EU has many advantages and disadvantages, which this essay will explore in detail.

Advantages of Brexit

Sovereignty: Brexit allows the UK to regain full control over its laws and regulations, free from the jurisdiction of the European Court of Justice. This enables the UK to make independent decisions without external influence.

Immigration Control: The UK can establish its immigration policies and control its borders more effectively. This can help address public concerns about immigration and allocate visas based on national needs.

Trade Flexibility: The UK can negotiate its trade deals with countries outside the EU, potentially securing agreements more tailored to its economic interests and needs.

Regulatory Freedom: The UK can develop its regulations, potentially reducing red tape and making the regulatory environment more business-friendly.

Financial Savings: The UK no longer contributes to the EU budget, which can result in significant financial savings that can be redirected to national priorities.

Fishing Rights: The UK regains control over its fishing waters, which can benefit local fishing communities and allow for sustainable management of marine resources.

Tailored Agricultural Policy: The UK can design agricultural policies that better suit its farmers and environmental needs, rather than adhering to the Common Agricultural Policy.

Foreign Policy Independence: The UK can pursue an independent foreign policy, allowing it to respond to global events and alliances according to its national interest.

Innovation and Growth: Freed from EU regulations, the UK can foster innovation and growth in sectors like technology and finance, potentially creating a more dynamic economic environment.

National Identity: Brexit has reaffirmed a sense of national identity and self-determination for many citizens, potentially strengthening national unity and purpose.

Disadvantages of Brexit

Economic Uncertainty: Brexit has led to significant economic uncertainty, affecting investments, business confidence, and financial markets. The long-term economic impact is still uncertain.

Trade Barriers: Leaving the EU Single Market and Customs Union introduces new trade barriers, including tariffs and customs checks, which can increase costs and reduce trade efficiency.

Loss of Market Access: UK businesses lose the seamless access to the EU market, which can impact exports and lead to potential losses in revenue and market share.

Regulatory Divergence: Differences in regulations between the UK and the EU can create complications and additional costs for businesses operating in both markets.

Labour Market Impact: Restrictions on the free movement of people can lead to labour shortages in sectors like healthcare, agriculture, and hospitality, which previously relied on EU workers.

Financial Services: The UK’s financial services sector, a significant part of the economy, faces uncertainty and potential loss of business as firms relocate to maintain access to the EU market.

Investment Decline: Uncertainty and new barriers may deter foreign direct investment, impacting economic growth and job creation in the UK.

Political Division: Brexit has deepened political divisions within the UK, including tensions between different regions and groups with varying views on Brexit.

Administrative Burden: The transition from EU regulations to domestic regulations requires significant administrative adjustments and resources, potentially straining government capacities.

Northern Ireland Border Issues: The need to maintain an open border on the island of Ireland while exiting the EU has created complex and contentious issues, impacting political stability and trade.

Brexit has advantages and disadvantages, and the impact on the UK will depend on various factors such as the trade deals the UK can negotiate, the ability of UK businesses to adapt to new regulations, and how the EU and other countries respond to Brexit. The UK will need to navigate these challenges carefully to ensure that Brexit has a positive impact on the UK's economy and society.
Back to blog

UOL Case Bank

Upon joining, you become a valuable UOL student and gain instant access to over 2,100 case summaries. UOL Case Bank is constantly expanding. Speed up your revision with us now.

Subscribe Now

Where are our students from?

Yale University
Council of Europe
Baker Mckenzie 
University of Chicago
Columbia University
New York University
University of Michigan 
INSEAD
University College London (UCL)
London School of Economics (LSE)
King’s College London (KCL)
University of London
University of Manchester
University of Zurich
University of York
Brandeis University
University of Exeter
University of Sheffield
Boston University
University of Washington
University of Leeds
University of Law
Royal Holloway, University of London 
Birkbeck, University of London
SOAS, University of London
University of Kent
University of Hull
Queen’s University Belfast
Toronto Metropolitan University
Hong Kong University of Science and Technology
University of Buckingham
ESSEC Business School

  • Criminal Practice

    Diagrams and Charts

    Our carefully designed diagrams and charts will guide you through complex legal issues.

  • Criminal Law

    Clear and Succinct Definitions

    Key concepts are concisely defined to help you understand legal topics quickly.

  • Property Law

    Statutory Provisions

    Statutory provisions are provided side by side with legal concepts to help you swiftly locate the relevant legislation.

  • Public Law

    Case Summaries

    We have summarised important cases for you so that you don't need to read long and boring cases.

  • Evidence

    Rules and Exceptions

    Rules and exceptions are clearly listed so that you know when a rule applies and when it doesn't.

  • Company Law

    Terminology

    Legal terms and key concepts are explained at the beginning of each chapter to help you learn efficiently.

  • Case Law

    Case law is provided side by side with legal concepts so that you know how legal principles and precedents were established.

  • Law Exam Guide

    Law Essay Guide

    You will learn essential law exam skills and essay writing techniques that are not taught in class.

  • Law Exam Guide

    Problem Question Guide

    We will show you how to answer problem questions step by step to achieve first-class results.

  • Conflict of Laws

    Structured Explanations

    Complex legal concepts are broken down into concise and digestible bullet point explanations.

  • Legal System and Method

    Legal Research

    You will learn legal research techniques with our study guide and become a proficient legal researcher.

  • Jurisprudence and Legal Theory

    Exam-focused

    All essential concepts, principles, and case law are included so that you can answer exam questions quickly.