Britons decisively voted to end their 43-year membership with the European Union on the 23rd June 2016, effectively severing the UK’s economic, legal and labour market connectivity with the continent (BBC News,2016). As the UK completes a decade post-referendum, it can be argued that Britain is poorer, less influential, and more divided than it was in 2016.
This essay explores how the origins of Britain's troubles predate the consequences of the results of a single vote. In fact, this essay hopes to explore how Brexit was not the silver bullet its proponents were hoping for - a pivot to the Commonwealth and the Anglosphere in the hope for markets beyond the EU has arguably backfired as this strategy has come to terms with geopolitical, geographic and cultural realities. On the other hand, the topic of immigration - which garnered tremendous attention - an anxiety that ran deep in British society, which arguably was the key reason for the referendum, has indeed produced the opposite of what many “leave” voters wanted. Thus, this essay examines how the above two factors contributed to Britain’s woes a decade later before considering what Britain's future might be in the decade ahead.
A laggard of growth
A decade after the leave vote, economists are measuring the barometers of the economy to move past speculation. Measurements published by researchers concluded that Brexit has indeed become a burden to the UK economy over a structural drag rather than a permanent one-off shock. As the UK economy is no longer permeable to the EU free-market, the economic productivity of the UK is said to reduce by 4% year-on-year. In contrast, researchers claim this reduction in productivity is predicted not be as drastic had the UK remained in the EU (UK in a Changing Europe, 2026).
Nowhere is this rift more prevalent than the trade of merchandise and services across the channel from the UK to mainland Europe: it is estimated that exports from the UK are 10% to 15% lesser now than in the past. Key reasons quoted are complicated customs declaration forms, rules-of-origin paperwork and sanitary checks on all merchandise exports - this would not have been the case without Brexit as smaller to medium size UK exporters are unable to absorb legal and administrative costs as a result of these new non-tariff barriers (UK in a Changing Europe, 2026).
Brexit: The Straw that broke the Camel’s back
One must be forgiven if they treated Brexit to be the sole reason for all of Britain’s malaise. However, one must closely examine the destruction left by the Global Financial Crisis (GFC) of 2008 on the British economy. It is no secret that London is arguably the world’s premier banking and finance hub, this meant that the UK economy was overly exposed to the crash of 2008. What followed the GFC of 2008 was a brutal austerity package delivered by the Conservative government’s exchequer led by then-chancellor of the exchequer, George Osborne - leading to widespread spending cuts throughout the 2010’s crippling public services such as the NHS whilst wages declined year on year (Global Banking and Finance,2026). Thus, one may deduce that sustained cuts to public spending left UK public services with broken systems, a trajectory which each UK government since was neither able to reverse, reform nor change.
It is true that Britons were experiencing their real wages decline year-on-year since the GFC of 2008 leading to a stagnation of British wealth and standard of living compared to their OECD peers. Brexit, therefore, is a compounding of the malaise rather than the cause.
A lack of interest
Proponents of Brexit argued that leaving the common market would inherently mean Britain taking control of how they do business with the rest of the world, thus opening up the market for and to emerging economies of Asia and the Americas and harnessing the partnerships with the old Commonwealth nations. An article published by the London School of Economics (2024) explains what the British government’s strategy was “Global Britain” - which one may even argue is a strategy to pivot away from the European Union and onto Asia and the Americas. The same study concluded that this strategy, a decade on, has simply failed (LSE, 2024).
The UK-Australia trade agreement was the first of many trade deals negotiated and ratified, and followed by another with New Zealand - however, given both countries are; a) geographical distance from the UK, b) their existing trade agreements with Asian neighbours and most importantly c) both Australia and New Zealand having very successful agriculture exports, meant that the UK did not, in essence, get what it hoped for. In fact, the Centre for European Reform (n.d.) analysed that the agreements between these countries would only add to the British economy very marginally with 0.008% from Australia and, with 0.003% from New Zealand, over a period of time till 2035.
India, the former jewel in the Empire’s crown, is a comprehensive negotiator. The potential trade deal with India was trumpeted by the then-government of the UK as the largest prize of the Commonwealth strategy. However, talks have dragged on for years and the yields of this process have been significantly disproportionate for the UK - said to only add approximately 0.2% to the UK GDP (Centre for European Reform, n.d.) While the trade deal with the United States has not yet taken place in full, the UK’s major trade partners with or without Brexit remain to be EU member states (LSE,2024).
Immigration, not trade
Brexit has often perplexed experts and economists in Britain and across the world, and one would be forgiven if they asked “So, why did Brexit happen?” The EU’s policy on free movement within member countries have become a lightning rod in the UK for quite some time, and the ensuing economic malaise has cast a spell away from the actual problem the many jobs taken by new faces across Britain - in low skills sectors like fruit picking and gig-workers to doctors and nurses in the NHS. This has undoubtedly caused anxieties about wages, housing and public services and above all, national identity amongst Britons (UK in a Changing Europe, 2026).
One would be mistaken to believe, or perceive that anxieties about Britain’s immigration woes were limited to the precariat class, however a CNN report on the tenth anniversary of Brexit (2026) sheds light on a software developer named Geriant who voted “leave”, constantly citing that Britain did not have control over its borders due to EU laws and was anxious about what the impact would be to the NHS and other public services if inundated with foreigners, despite the decades of long austerity.
However, it can be argued that Brexit did not usher in the desired outcomes. “Taking back control” paved the way for over 550,000 immigrants, a far greater number than the approximately 250,000 in the pre-Brexit era, resulting in a peak in 2023 with approximately 950,000 (CNN Business, 2026). Essentially, intra and inter-EU migration was replaced by non-EU migration from the former Commonwealth, Latin-America and Africa who were needed to replace Britain’s ageing workforce.
As of 2025 and 2026, Britain’s net migration levels are down, but this is thanks to tough migration policies adopted by both the Conservative as well as Labour governments and not Brexit (Office for National Statistics, 2026; Full Fact,2026).
And the decade ahead?
It can be understood that Brexit did not deliver the intended results, and in fact, the reverse occurred in relation to immigration and nothing at all when it comes to international trade. Nonetheless, the investment bank Goldman Sachs (2026) reported that Britain may have weathered the worst of the Brexit malaise. The Labour-led government since 2024 has pursued a long-term reform agenda and has made inroads to iron-out any friction that might have existed with partners (Idea Farm,2026).
However, the long-term damage caused by years of austerity and Brexit, goes beyond the economy. Today, Britain is divided, more than ever whilst voters have become increasingly impatient with both the Conservative and Labour parties. This is evident through the recent polls which ensured wins for the far-right Reform UK party led by Nigel Farage, arguably one of the chief architects of the “leave” campaign (CGTN, 2026). While there is a renewed campaign to rejoin the EU via the “National Rejoin March” - this has been limited to urban areas like London, Manchester and are only popular amongst young urban university-educated voters.
The promises made by the leave campaign clearly did not bear fruit - Global Britain via the Commonwealth did not yield desired results, and the debate on immigration got even hotter. The case for Global Britain is weak, and is a hard nut to crack - years of austerity led to a stagnation of wages and a sharp decline in the standard of living. Brexit was simply the straw that broke the camel’s back. Once, the mighty British Empire - the greatest ever known to mankind, struggles today to lead a delegation to successfully negotiate a trade deal, struggles today to keep social cohesion and unity within its borders while the Commonwealth moves on from the days of the Empire. A decade on, the UK finds itself at a crossroad, no closer to a settled answer to the question it once asked its citizens.
References
BBC News (2016) EU Referendum Results, http://www.bbc.com.uk/news/politics/eu_referendum/results
Centre for European Reform (n.d.) Weighed down by gravity: UK trade policy after Brexit, https://www.cer.eu/insights/weighed-down-gravity-uk-trade-policy-after-brexit
CGTN (2026), Analysis: 6 PMs in a decade - Why is UK stuck in political turmoil?, https://news.cgtn.com/news/2026-06-23/Analysis-6-PMs-in-a-decade-Why-is-UK-stuck-in-political-turmoil--1Od38p1ro5i/p.html
CNN Business (2026), Ten years on: How Brexit has impacted the UK economy, https://edition.cnn.com/2026/06/22/business/brexit-anniversary-uk-economy-impact-intl
FULL FACT (2025), How many migrants come to the UK?, https://fullfact.org/immigration/net-migration-to-the-uk/
Global Banking and Finance (2026), UK political instability: PM Turnover and Economic Challenges, https://www.globalbankingandfinance.com/anyone-fix-britain-regular-change-pm-symptom-uks-malaise/
Goldman Sachs Investment Research (2026), UK - The Economic Cost of Brexit, Ten Years On, https://www.gspublishing.com/content/research/en/reports/2026/06/24/487d9f10-f31c-4e8d-ac71-b248ce8a8aaf.html
Idea Farm (2026), Brexit 10 Years On: What’s worked, what hasn’t, what’s next?, https://theideafarm.com/markets/brexit-10-years-on-whats-worked-what-hasnt-whats-next/
LSE (2024) Global Britain has failed - what next? British Politics and Policy Blog, https://blogs.lse.ac.uk/politicsandpolicy/global-britain-has-failed-what-next/
Office for National Statistics (2026), Long-term international migration, provisional:year ending December 2025, https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/internationalmigration/bulletins/longterminternationalmigrationprovisional/yearendingdecember2025
UK in a Changing Europe (2026), Brexit ten years on: the economy, https://ukandeu.ac.uk/brexit-ten-years-on-the-economy/
Sunday, September 27, 2026
BREXIT: A Decade Later
Monday, May 8, 2023
CONVERTING TRADE INTO POWER – The European Single Market at 30
Reflections on Europe Day 2023
by George I. H. Cooke
The impact of trade on countries that engage
in it heavily internationally, and the overall effect it is having on
international relations as a whole, continues to baffle. European historian, Norman
Davis, points out that “Western Europe’s greatest success story lay in the realm of economic
performance. The speed and the scale of economic resurgence after 1948 was
unprecedented in European history, and unmatched in any part of the world
except Japan. It was so unexpected and spectacular that historians cannot
easily agree on its causes. It is far more easily described than explained.”
Herein lies the crucial argument for trade
and its intensification, which the European Union, as the foremost model of
integration, has been able to achieve. As the Union marks three decades since
the establishment of the Single Market, it is prudent to reflect upon that
which has been achieved individually by countries, and collectively by the
region.
Geared towards facilitating the free flow of
goods, services, people and capital, the depth of integration was first
envisioned in 1957 through the Treaty of Rome. Considered to be well ahead of
its time, the Treaty proposed the reduction of customs duties, establishment of
a customs union, creation of a common market, as well as common transport and
agricultural policies, and even envisaged the setting up of the European
Commission, which is one of the most unique institutions in multilateral
bodies.
It was the signing of the Maastricht Treaty
on 7 February 1992, that led to the establishment of the Single Market on 1
January 1993 bringing together 12 EU countries, notably, Belgium, Denmark,
Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands,
Portugal and the United Kingdom. With the expansion of the Union, the Single
Market now comprises of the 27 EU Member States and also includes Iceland,
Liechtenstein, and Norway, while Switzerland has a degree of involvement as
well.
The European Commission highlights that the
Single Market has been able to make three distinct shifts - ‘accelerating the
transition to a greener and more digital economy; guaranteeing high safety and
leading global technological standards; and responding to recent crises with
unprecedented speed and determination” – but from an analytical point of view, it
has made the European Union one of the strongest trading blocs, and boosted its
currency globally. This translates to power on the world stage, that many other
regions which have attempted integrating can only aspire to, and are yet to
realise.
While the deepened integration might be
questioned against the backdrop of the exit of the United Kingdom, it needs to
be examined for the progress and impact made over the last three decades.
Greece, is probably the EU member that has faced the most trying of financial
times in recent years, hence the Greek Foreign Ministry’s assertation that “the seamless operation of the Single Market is a
precondition for a strong economy that will benefit all Member States, citizens
and businesses and that will meet the conditions of global competition,” is
testimony to its resolute commitment to the Single Market. In contrast,
Germany, seen as the foremost and strongest economy in the Union, has benefited
immensely from the Market. The Bertelsmann Foundation notes that “Germany
benefited most in absolute terms from the single market, earning an extra 86
billion euros ($96 billion) a year because of it.”
At
first glance it appears that all countries are benefitting from the Single
Market, but it is important to note that the advantages accrued vary from one
member state to another, and is largely dependent on their size, economy and
strength. There is relative gain with Germany for example gaining tremendously,
and Greece gaining relatively less, but gaining nonetheless.
Arguments on the contrary
claim that the Single Market remains an illusion, which is yet an ‘ongoing
project’ despite its many decades of implementation. Fredrik Erixon and
Rositsa Georgieva of The Five Freedoms
Project, claim that “While the nature and profile of the Single Market, and
its regulations, have changed over the years, they often have focused on the
wrong issues, or on factors that would not change the nature of markets as
such.” This observation relates specifically to the Services sector, with their
further claim that “The piecemeal approach to reform, followed until now, has
created a complex web of regulations, administrative rules, national
discretion, and partial freedoms. Fractional and incomplete liberalization have
reduced the potential gains.”
Similarly, highlighting the legal obstacles
to implementation, Copenhagen Economics,
points out that “the functioning of the Single Market is a shared responsibility
between the EU and the Member States. Differences in interpretation and
application of EU law are inevitable. Despite years of hard work and
substantial real progress, we appear to be some distance from having a well-functioning
Single Market, free from unjustified or inappropriate obstacles to free
movement.”
Although three decades might not have yielded
a completely consolidated system it does however indicate much progress that is
yet to be achieved by other regional groupings. The EU Commissioner for
Internal Market, Thierry Breton argues that the Single Market is “much more
than just a legal framework – or indeed a market. We need to continuously preserve,
improve and re-invent this formidable asset.” Breton calls for three crucial measures
to ensure that progress. He notes that “first, by ensuring that the rules we
have agreed collectively are also applied collectively. Second, by putting SMEs
at the centre of Europe’s competitiveness. Third, by ensuring that people and
businesses have access to the goods and services they need, when they need
them.”
While Breton’s assertion contributes to the
concept of the Single Market being an ‘ongoing project’ it indicates the need for
collective action for any progress across the grouping. This collective action might
not always be forthcoming owing to domestic developments as seen with Brexit,
and its impact on the region in particular, and regionalism in general. While
Brexit delayed deeper integration, it also raised the question over the amount
of integration. However, the United Kingdom had first raised concerns about the
European model two years after joining in the mid-1970s. Therefore, the example
of the Brexit needs to be examined in different light. Of relevance however, is
continuous call for collective action. If Member States pull in different
directions, or differ largely over policy and its implementation, the model is
on rocky ground.
Yet the acceleration of economic development
across the region, the enhancement of trade, and the removal of barriers, has
led to the Single Market remaining a firm foundation upon which countries are
able to build solid cooperative mechanisms. The Single Market also causes a
return to the basic understanding that those who trade are less likely to engage
in conflict.
A decade ago, the Stanford Graduate School of
Business focused on the research of Matthew O. Jackson and Stephen Nei, who suggested
that “military alliances alone aren’t enough to stop nations from attacking one
another, and also that the addition of multilateral economic trade creates a
more stable, peaceful world.” In their paper on Networks of Military Alliances,
War and International Trade, Jackson and Nei observed that “once you bring in
trade, you see network structures densify…trade motives are essential to
avoiding wars and sustaining stable networks.”
Member States of the European Union embarked
on an ambitious programme of integration after the Second World War with trade
remaining at the centre, but these members did not sacrifice defence either,
and many are Members of the North Atlantic Treaty Organization (NATO). Thus,
military alliances have not been completely forgotten or sidelined, but have
been nurtured too, and especially so in the last three decades. After the
collapse of the Soviet Union and the end of the Cold War, NATO evolved, and
this evolution is attributed to Member States taking concrete action to ensure
their preparedness if and when required.
While Europe has been able to avoid war among
its constituent, yet sovereign entities, it is today grappling with war on its
border as Ukraine and Russia continue to engage violently. However, NATO not
activating a no-fly zone over Ukraine despite demands for the same from Ukraine,
has probably been the saving factor that has ensured that war has not spilt over
into Europe, and in fact the entire world.
The collective military might, coupled with
the trade prowess, has given the European Union a higher degree of power. Three
decades after the Single Market came into operation it is relevant to question whether
trade ensured the inclusion of power into the equation, especially in light of
the strength of the currency of the EU, and its financial markets. A currency of
several European member states used by approximately 340 million people daily,
is today the second most widely used currency globally, with 60 partner
countries or territories also using the currency in some form.
The 69th plenary meeting of the
Conference of Parliamentary Committees for Union Affairs (COSAC) is due to convene
in Sweden next week. A background note for the session on the Single Market has
been circulated prior to the meeting. It claims that “Over the last
three decades, the single market has promoted healthy competition and created
strong economies and industries across the continent. The removal of barriers
for goods, services, capital and people has given us both better companies and
more thriving countries, and has provided consumers with higher quality
products at better prices. The single market also makes it easier to travel,
study, work, live and retire in other member states…. The single market also
contributes to the Union’s unique peace project as it has generated increased
trade, closer contacts and greater mobility within the Union.”
Trade transposed a region that fought two
world wars in the short span of two decades, and has managed to remain
relatively peaceful and devoid of conflict for over seven decades. It is
granted that challenges remain deeply entrenched, and much doubt is raised over
collective action, but it is also true that the European model of integration
remains unique and in a league of its own, well ahead of the rest. Davies’
claim remains accurate as the progress “is far more easily described than explained.”
Wednesday, January 29, 2020
BREXIT AND BEYOND: STRATEGIZING BRITISH FOREIGN POLICY IN 2020 THROUGH THE COMMONWEALTH
As the United Kingdom
exits the European Union, and Euro-skeptics draw parallels to a doomsday
scenario, in which more members will opt to leave, it is relevant to reflect
upon the United Kingdom, the country that is to be directly impacted in the
months and years ahead. Member states of the EU still have each other and even
have neighbours such as Serbia, Montenegro, Albania and even Turkey, all of
whom are keen to gain membership. The EU will ride out the storm that hit it in
the last five years since the now infamous referendum which David Cameron
promised and held, and respected as he exited Downing Street. His successors
have gambled as did Theresa May in holding elections and hoping to obtain a
larger majority, but instead lost more seats. Her successor Boris Johnson, who
was one of the architects of Brexit, who campaigned vigorously with Nigel
Farage of the United Kingdom Independence Party for Brexit in 2005, had more
success in the polls in 2019 and is now prepared to lead his country out of the
regional grouping. Friday, October 27, 2017
THE OCCULT OF OCTOBER: CATALONIA TODAY, SCOTLAND TOMORROW?
October is considered the best month to visit Catalonia owing to the
Barcelona Jazz Festival, the human castle building competition in Tarragona,
the sparkling wine festival in Sant Sadurni d’Anoia and the festivities in Girona
surrounding the Fires de Sant Narcis. Yet October 2017 draws to a close on a
highly contentious note with a referendum, a declaration of independence and attempts
to secede being met with a military response, the invoking of constitutional provisions
for direct rule and strong attempts to stop the disintegration of a country.

