![The House of Commons in session. Photo: AFP The House of Commons in session. Photo: AFP]()
Following a June 2016 referendum, in which 51.9% of the electorate voted to leave, the UK government formally announced the country's withdrawal in March 2017, initiating a two-year process, due to be concluded on 29 March 2019.
In spite of the pre-set timeframe, negotiations took longer than expected. A long agonising struggle, which amongst other consequences, resulted in; a damaged political system, weakened economy, and an appalling reputation.
In the process, the UK parliament voted thrice against the negotiated withdrawal agreement and extended the deadline twice, with possibly further extensions following the experienced setbacks this week. This undoubtedly causing economic and political turbulence in the process.
Brexit instigating economic uncertainty
Consequent to the prolonged discussions between the UK government and the European Union, economic uncertainty amplified.
In fact, since the UK’s formal announcement, and subsequent discussions, we have been witnessing a succession of negative overall Index scores, with an overall downward trend. Notably, due to this ongoing uncertainty, the UK’s services Purchasing Managers' Index (PMI), amongst other indicators,...