Three and a half years later, the debate on the British's exit from the European Union turned out in favor of those who supported the motion to leave. Now, the country hopes to remake itself again and be a rule maker instead of a rule-taker. It believes that by doing so, it will bring about an economic and political revolution in the country.
Several people are, however, skeptical and believe the Brexit is a disaster waiting to happen. Not taking rules that have been made for 27 other countries may come with its repercussions. But what does the future really hold?
Pessimist, Optimist, and the Uncertain
January 31, 2020, has now been recorded in history books as the day the British exited the European Union. It was a tearful day for some people in the country who believe that the legal departure from the EU would lead to economic mediocrity and geopolitical irrelevance.
Nonetheless, the Brexiteers or optimistic ones were seen plying the streets in celebration. For them, it marked the beginning of the country's freedom. This category of firm believers opined that the Brexit was much needed and it was about time Britain started making its own rules.
For instance, Prime Minister Boris Johnson who took over from Theresa May after her unsuccessful attempt to get the Brexit approved by the British parliament made comments. According to the Prime Minister, the departure is a "moment of real national renewal...This is a turning point in the life of our nation.”
In between these classes of users, are those who are uncertain if the Brexit will work out in Britain's favor. Specifically, these were people who were very much confident that it was a disaster waiting to happen. But now, they believe there could be even the slightest chance that things will work out.
What's the Brexit all About
For the uninitiated, British Exit (Brexit) from the European Union (EU) has been proposed for the past three years. The country was a member of the EU for 47 years, and as such, it had to rely on the laws made by the political and economic union for its 27 member countries. Usually, these countries have to agree upon the laws that will guide them.
However, now that Britain is no longer a part of the EU, it can have full control to make its own laws as they deem fit for the country. It can also start formal trade negotiations with the EU, and countries around the world.
To mark the departure, officials took down the British flag at the EU Council building in Brussels. It will no longer be among the array of flags of member countries. Also, the UK Representation Office in Brussels lowered its EU flag.
Time for Change
It wouldn't be the first time Britain made a major decision of this nature. After World War II, the country reportedly joined the EU. The Brexit backers believe that this is another change that was much needed. In their opinion, it would enable the country to make laws best suited for itself. Breexiteers will also be able to practicalize their ideas.
According to Tony Travers, a professor of politics at the London School of Economics:
"Disruptive change can be beneficial for a country...That is, in a sense, what Brexit has accomplished."
Several areas for possible improvements have been noted after the Brexit. For instance, it is believed that the country will have free trade. Hence, they can trade freely with any country they dim fit. Others believe that technologies such as Artificial Intelligence will impact more on improving the country.
Patrick Minford, an economist at Cardiff University said:
“It starts with free trade...Everyone talks about the E.U. as if it is a bastion of free trade, but it’s not. We want to trade freely with everybody, especially the United States.”
Britain May Deprive Itself of Growth
Critics have opined that Britain will deprive itself of economic growth in the next few years. Specifically, it would be deprived of gains that could've been gotten from gross domestic products, thereby retarding its growth. The lost gains may amount to 1.2 percent and 4.5 percent of its gross domestic product.
Britain Will Have to Blame Itself for the Good and Bad
At the end of the day, promoters and non-supporters of the Brexit agree that Britain can now blame itself and its leaders for the good and bad decisions made. Having full control of its decision-making process, it would not have to blame the EU for the turnout of things in the country. Accordingly, the country will have to take responsibility for its shortcomings.