Continental Europe is Britain’s biggest trading partner. In some ways it is plenty of one-way traffic because as we all know Britain actually manufactures very little. But the possibility that a trade deal with the European Union could take up to 10 years should send shockwaves through the European Union and the British government. The Brexit drive is being built on the need for Britain to become a major international trading nation and not so centred on the European Union. But if it takes 10 years to a sign a trade deal with Britain’s neighbours, how long is it going to take Britain to pen an agreement with other parts of the world? Six months after the Brexit vote it is becoming increasingly clear that the whole situation is a complete mess and Britain’s actual divorce could take years. This will create plenty of uncertainty both politically and economically. It could mean that British economic growth stalls or even contracts because of all the uncertainty which has been created. I do not believe that anyone who voted for Brexit would have thought that it was going to take so long to resolve the situation. It must be remembered that the British economy is still firmly centred around the European Union and the financial services industry. There are going to be plenty of problems ahead and my biggest concern is what will be the economic impact of this period of uncertainty, both for the European Union and of course the British government.
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