UK Economic Impact After Leaving the European Union
One of the most immediate economic changes to the UK post BREXIT has been the devaluation of the pound. This has had a major negative impact on consumer spending and the economy overall. However, there are some signs that the economy is still recovering, even after the recent fall. One of the reasons why this may be the case comes from the study of economics after the Financial Services Commission’s vote to put limits on pay packets and bonuses. The FSA has since tightened up its restrictions and while this has slowed down spending, it hasn’t dampened growth in the same way as Brexit did. What Economic Changes Are Occurring? So, why is there a delay in consumer spending? Consumer spending traditionally reflects economic conditions rather than our personal preferences, so it is often the case that people simply wait for an economic indicator to emerge before they decide to…
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