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On Jan. 31, 2020, UK formally left the EU and entered a transition period during which the UK world negotiate with the EU to form a new agreement. On Jan. 1, 2021, the UK finally finished the Brexit process. Whether UK’s departure from the EU is good to UK or not is a hard question to answer. I will present the impact of Brexit and then give my answer. As for the impact of Brexit to the UK, I will show my opinion on several aspects as follows.

Firstly, Brexit’s biggest disadvantage is its damage to the UK’s economic growth. UK’s economic growth has been decreasing from 2.4% in 2015 to 1.0% in 2019 and the UK government estimated that Brexit would lower the UK’s growth by up to 6.7% over 15 years. The slowdown is mainly due to consumer spending decrease and a reversal in investment from strong growth to contraction. At the end of the consumers, the uncertainty of the future of UK’s economy has created a bad expectation of British currency which made British Pound devaluate. With a devalued currency, UK suffered higher import prices which led to the rising price of all the goods in UK. Therefore, consumer spending experienced a reduction. On the other hand, uncertainty over the future of UK-EU relationship has hit business investment. Once UK is not a member of the EU, labor force can not flow as freely as previous. UK may face a problem of scarcity of labor force and higher wages of the employees, which will decrease the attractiveness to the capital. A survey has shown that m 内容过长，仅展示头部和尾部部分文字预览，全文请查看图片预览。 rests are damaged. EU as a highly integrated union is still an experiment for this form. Brexit may indicate that this integration union can not last long. In this aspect, Brexit is good to the UK and whether UK can develop well or not is determined by the future policies but not the Brexit itself.

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