On January 31st 2020 the United Kingdom officially left the European Union after nearly 50 years. While Brexit supporters saw this as a step towards independence, opponents feared economic and political instability. Five years later the true impact of Brexit is becoming clear, affecting trade, businesses and Britain’s global position.

A Divided Nation

The 2016 referendum that led to Brexit was highly controversial with 52% voting to leave and 48% voting to stay. Many hoped Brexit would give the UK more control over its borders and economy. However businesses, especially small ones, faced increased costs, delays and paperwork when trading with the EU.

Economic Challenges

Leaving the EU’s single market introduced trade barriers impacting businesses that relied on smooth EU trade. Some companies moved operations to EU countries to avoid extra costs. Government reports predict UK trade and economic growth will remain lower than if it had stayed in the EU.

Unexpected Immigration Changes

One key reason for Brexit was reducing immigration. However the UK now grants more work visas to people from outside Europe leading to an increase in immigration rather than a decrease.

Read more: EU Resumes Rafah Border Monitoring Mission.

UK-EU Relations Today

Public opinion has shifted with many believing Brexit was a mistake. However Prime Minister Keir Starmer has ruled out re-joining the EU anytime soon. Instead his government is working to improve UK-EU relations in areas like trade, security, and travel.

Brexit has reshaped the UK’s economy and politics in ways few fully expected. While some businesses have adapted many still struggle with new trade barriers. The UK’s relationship with Europe is evolving but for now re-joining the EU remains unlikely.