Brexit

REGULATIONS THAT MIGHT CHANGE WITH BREXIT

Many aspects of life in society in Europe are regulated by laws, rules and directives from the European Union. The Brexit will, therefore, force the British parliament to re-examine a series of regulations that cover the daily lives of 66 million souls who populate the United Kingdom today. Some of these regulations will indeed be kept by the parliament, others will know changes to represent the desire for emancipation of current British policy better. Let’s review the European directives that may be changed after Brexit, and that will potentially revolutionise the lives of British people for the better or, the worse.

FREE MOVEMENT OF PERSONS AND GOODS

Entering and leaving the country will also be difficult for British people.

The thorniest subject of Brexit and probably the main reason why British people voted in favour of separation with the European Union is the question of immigration and the free movement of people. Leaving the European Union involves re-establishing borders that will limit the access of migrants to the interior of the country, but not only! Leaving the UK will also be more difficult for British people. The European Union will undoubtedly have a severe attitude towards the exit of the country and will probably adopt a restrictive policy, limiting the access of the United Kingdom to the single market of free European exchange, making the imported products more expensive and the export products less attractive on the European market. The UK is at a critical juncture in its history where the years to come, and the success of the Brexit negotiations will decide the future of the country.

IMPACT ON THE BRITISH FOOD INDUSTRY

Brexit is going to have an impact on the food industry.

British farmers have benefited from the subsidy program of the European Union, which has put over 3 billion pounds at their disposal. The exit of the European Union will cut UK food producers from the European agriculture financing program, and product prices will have to be increased for producing farms to remain profitable. Added to this is the fact that imported products are likely to be subject to a new tax and that export products will compete with cheaper products produced by member countries. Unless the British government succeeds in negotiating terms of trade close to those existing within
the European Union today, there is a good chance that the price of food in the United Kingdom will soar post-Brexit.

THE FUTURE OF GAMBLING AND OF GIBRALTAR

Britain leaving the EU will impact gambling in Gibraltar.

The gambling industry is a critical player in the British economy, employing 106,366 people and generating 13.9 billion pounds in 2017. It is therefore surprising to see that the subject rarely debated in the context of the Brexit and yet the industry has reasons to worry. The United Kingdom is one of the countries where gambling is the most regulated and where online gambling is the safest in the world. The UK Gambling Commission is considered the most reliable gaming license authority which sets the quality standards that online casinos must display and maintain to meet the expectations of European gamblers.

One of the primary requirements for any online casino to prosper in the UK is that to hold a license issued by the UK Gambling Commission or by one of its whitelisted counterparts that are the Isle of Man, Malta, Alderney and Gibraltar. Which brings us to the problem of Gibraltar. The territory where any fixed-odds transaction is taxed at only 1% of revenue has attracted many online casinos. Its proximity to the rest of Europe and access to its free trade single market are also factors of interest for the more than 30 international gambling businesses on the British territory. Brexit could be resulting in new taxation and impositions of all operators in Gibraltar that offer their services in Europe. This plus the limitations of free movement could force some operators to relocate and to abandon the United Kingdom.

Everything depends on the negotiations

The future of the country and the well-being of its population depends on how the European Union and the United Kingdom will re-imagine Europe. Will international policy arrive at a satisfactory middle ground for all parties, or are we entering an extended period of negotiations led by economic constraints, restrictions and European sanctions? Only the future will tell us.