The Economic Impact of Brexit on the United Kingdom: A Brighter Perspective

The question of how the United Kingdom's economy has fared since leaving the European Union (EU) is a complex and multifaceted issue. Debates surrounding this topic often hinge on various factors, including the impact of the pandemic, geopolitical shifts, and the influence of Brexit itself. Advocates for Brexit argue that it has had a significantly positive impact on the country, allowing it to regain control over its future and economy. This article explores these arguments and provides a balanced perspective.

The Immediate Aftermath of Brexit

For many post-Brexit supporters, the situation is nothing short of a success story. Terry Gowing, a prominent engineer and staunch Brexit supporter, speaks exuberantly about the positive impacts on the economy and working class. He points out that job opportunities in his field are plentiful, and wages are exceptionally high.

Gowing elaborates, stating, 'I think your question should be how is the EU doing now that the UK has left the EU? Not as well as they would have us believe. If you are going to talk about all the negatives of the UK post-Brexit, then you must also talk about all the negatives of the EU. It's an unfair comparison.'

Impact on the Economy and Working Class

Growing is particularly positive about the employment landscape. He states, 'For me, it's absolutely fantastic. The country and economy are doing well. There is a lot of work for the working class. As an engineer, my wages are fantastic and my skills are in high demand.'

The success of the working class, he contends, is a direct result of leaving the EU. 'Take back control' is a phrase that resonates strongly with him, referring to regaining sovereignty and not being dictated to by EU policies.

EU vs UK: A Comparison of Negative Factors

While acknowledging potential economic impacts, Gowing argues that the negatives associated with the EU far outweigh those of the post-Brexit UK. He posits, 'Brexit may have had a slightly negative effect on the economy, but if so, nobody knows to what extent because it's impossible to separate the impacts of the pandemic and Russia’s invasion of Ukraine.'

Gowing believes that the negatives of the EU, including a lack of democracy and imposed policies, are more detrimental. He states, 'The EU is not democratic. Our children and grandchildren will be able to vote for whom they want to lead them. Unlike the EU, whom we cannot get rid of due to their dictates.'

Historical Context and Economic Policies

To contextualize the economic impacts, Gowing draws on historical events. He points out that joining the EEC (as the EU was then known) in the 1970s resulted in immediate policies that negatively impacted sectors like the fishing industry. 'Joining the EEC did enormous damage to our economy immediately; the late introduction of the fishing policy, only added to our terms of joining, literally hours before we signed the accession documents. A very sly and deceitful move to gain access to our rich fishing waters. A real dirty trick and should have been a warning about the kind of organization we were about to join.'

The fishing industry suffered immensely. Gowing explains, 'This policy cost the fishing industry tens of thousands of jobs and devastated fishing villages and communities around our coastline,' and over time, 'fishermen had to sell their boats and later their quotas to survive because they were unable to do so under the policy, quotas imposed.'

Current Trade and Future Opportunities

Despite these challenges, Gowing is optimistic about the future. 'Despite the pandemic, the Russian invasion, the delays and controversies created by the EU remainers and the government, they have made new trade deals and agreements like the AUKUS deal and the Technology defense and trade deal with Japan. Many other trade deals that were rolled over from our EU deal with these countries but which can now be changed to better terms for each party. The CPTPP agreement is also a promising opportunity.'

Gowing concludes by noting, 'So, at the end of the day, we can both live without each other, but it would make more sense to leave these decisions to business people who know how to do business, not politicians who aim to score points, win ego-boosting competitions, and demonstrate their power to their electorates rather than get on with the business of resolving problems.'

While the impact of Brexit is still a subject of debate, those who support the move often see significant positive changes in the economy and a newfound sense of control. The future, as Gowing asserts, will be shaped by strategic business decisions rather than political posturing.