LONDON (AP) — Ten years ago, the United Kingdom voted to leave the European Union in a referendum that forges political identities to this day and that shattered a half-century project to get closer to the continent. This was reported by Qazaqyia.kz citing Associated Press.
Brexit, short for British exit, became a reality on June 23, 2016, when 52% — or more than 17 million people — voted to leave the EU. Though the margin was narrow, the vote led to the most dramatic shake-up of the U.K. economy and society since World War II.
But like any divorce, the paperwork and process of completing the breakup was not swift: It took nearly five years.
Brexit was born out of a growing sense of frustration not only with the EU but over the global financial crisis of 2008. Supporters were able to tap into that frustration, and argued that the U.K. on its own, would be revitalized and able to focus just on domestic priorities.
Opponents warned that Brexit would lead to an economic disruption and that it risked the country's standing in the world.
A decade on, here is where Brexit stands.
Backers of Brexit — commonly known as Brexiters — held out a vision that the British economy could thrive outside the EU by harnessing the buccaneering spirit that had once made it the world's biggest.
Though the COVID-19 pandemic and the wars in Ukraine and more recently, the U.S.-Israeli war on Iran have not helped, it's clear that the British economy has not been revitalized.
Merchants have complained about the hurdles that they now have to clear when trading with their European neighbors — the 27-nation EU remains by far the U.K.'s biggest trading partner.
And though there are no tariffs imposed on British goods entering the EU, there is a raft of non-tariff barriers, such as cumbersome customs paperwork, border certifications, and visa restrictions. Many of the trade deals that the Brexiters touted, most notably one with the United States, have not materialized.
Experts say the British economy is between 4% and 8% smaller than it would have been had the country voted to remain in the EU. That would translate to much higher living standards and billions more pumped into public services, including the cherished National Health Service, which was promised an extra 350 million pounds ($468 million) a week by Brexit campaigners. That pledge was emblazoned on their big red campaigning bus.
"Brexit has made the U.K. economy smaller than it otherwise would have been," said Jonathan Portes, professor at King's College London.
"The effect has not been a sudden collapse, but a gradual and cumulative drag on trade, investment and productivity," he wrote in an article for The UK in a Changing Europe think tank.
Brexiters argue, however, that leaving the EU is not something that can be judged in the short-term — there was always going to be a short-term economic disruption in return for greater control over an array of policy levers, including on migration.
Brexit put an end to free movement between the U.K. and EU, but securing Britain's border has had mixed outcomes. Getting a grip on immigration was a key promise of the Brexiters — their message of taking back control resonated.