Brexit, political rancor may cause long-term damage to British economy

Sandeep Mazumder, associate professor of economics and UK native, is available to comment by phone or email on the ongoing power struggle over control of Britain’s planned exit from the European Union.

“Uncertainty abounds in the United Kingdom – both in Parliament, and with regards to Brexit. At this point, there are several outcomes that could result from Theresa May’s proposed deal being voted down by the UK’s Members of Parliament.

As it stands, the UK could be on course for a hard Brexit in March with no deals in place with the European Union. A lack of trade deals, in particular, will likely be very damaging to the British economy.

But, a hard Brexit is not a given either. Changes in the political set-up could open doors for other outcomes as the world waits to see what will happen,” says Mazumder. For now, the uncertainty surrounding Brexit is most likely to harm markets involving British firms, he adds.

Mazumder is an expert in macroeconomics, monetary policy and international finance.