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portmanteau of "Brexiter" and "Extremist", a pejorative term used by some outlets to describe Leavers of an overzealous, uncompromising disposition. [24] [25] [26] Brexshit A derogatory variant of Brexit, used chiefly by its opponents. [27] [28] [29] It is a portmanteau of the terms Brexit and shit (a profane word referring to faeces). Brextension
The economic effects of Brexit were a major area of debate [1] during and after the referendum on UK membership of the European Union. The majority of economists believe that Brexit has harmed the UK's economy and reduced its real per capita income in the long term, and the referendum itself damaged the economy.
In particular, there was a broad consensus among economists and in the economic literature that Brexit would likely reduce the UK's real per capita income in the medium and long term, and that the Brexit referendum itself would damage the economy.
Following David Cameron's announcement of an EU referendum, in July 2013 the Institute of Economic Affairs (IEA) announced the "Brexit Prize", a competition to find the best plan for a UK exit from the European Union, and declared that a departure was a "real possibility" following the 2015 general election. [237]
In 2016, the impact of Brexit on the European Union (EU) was expected to result in social and economic changes to the Union, but also longer term political and institutional shifts. The extent of these effects remain somewhat speculative until the precise terms of the United Kingdom 's post-Brexit relationship with the EU becomes clear.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
This is the economic Brexit that so many leading Tories and commentators demanded," a major break from her predecessors and even Thatcher in its abandonment of sound-money fiscal policy. He cautioned that "[i]t is, however, important to remember that most of those who backed Brexit did not do so out of a philosophical desire to slash the size ...
Between 2017 and 2019, representatives of the United Kingdom and the European Union negotiated the terms of Brexit, the UK's planned withdrawal from membership of the EU.. These negotiations arose following the decision of the Parliament of the United Kingdom to invoke Article 50 of the Treaty on European Union, which in turn followed the UK's EU membership referendum on 23 June 2016 in which ...