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The impact of Brexit on the UK has been significant across various sectors and areas of society. Here are some key aspects where Brexit has had an effect:
Trade and Tariffs: Brexit has resulted in changes to trade relationships with the EU and other countries. New trade agreements had to be negotiated, affecting tariffs, customs procedures, and supply chains.
Business Investment: Uncertainty surrounding Brexit negotiations led to hesitancy in business investment decisions. Some industries, particularly those with strong ties to the EU, faced challenges in planning and strategy.
Financial Services: London, as a financial hub, saw changes in regulations and access to EU markets. Some financial institutions relocated operations or set up subsidiaries within the EU to maintain access to the single market.
Supply Chains: Disruption to supply chains occurred due to new customs procedures and regulations. Industries reliant on just-in-time delivery systems, such as automotive and manufacturing, were particularly affected.
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