The Great British RebootHow the UK Can Thrive in a Turbulent World

The Great British RebootHow the UK Can Thrive in a Turbulent World

Alex Brummer

Print publication date: 2021

ISBN: 9780300243499

Publisher: Yale University Press

Abstract

Taking a refreshingly realistic approach, this book outlines how our current moment can be reshaped into an unprecedented opportunity for economic prosperity. With a new long-term approach, Britain can capitalize on the ever-changing global market, its brilliant research universities, and new technological developments. The book creates an inspiring investigation into how careful planning and innovative reform can lead to a flourishing economy after Brexit. It begins with an examination of the contributions made by the activities that make the UK economy, such as the progress in research, pharmaceuticals, technology, software, and innovation, which can be traced back to the intellectual powerhouses of UK's institutions of higher learning. It cites finance as the highest UK earner of overseas income and a magnet for international institutions. The book describes London as the biggest financial centre outside New York, which has attracted even greater numbers of skilled financial traders since the EU referendum result of 2016. It also explains how the UK financial sector accommodated trading, provided credit, and raised new capital for troubled firms and those seeking post-Covid-19 opportunities. The book emphasizes the profound impact that Brexit has had on British and global trade and production associated with the coronavirus pandemic. It explores the little recognition given to the part that immigration has played in the advancement of the UK economy, and points out the latest long-term projections cite migration as one of the reasons why the UK economy will outpace that of France and other EU members in the 2020s. The book recounts that when Britain voted to leave the EU in June 2016, very few people envisaged the long timescale involved in navigating its departure. It analyses the Brexit disarray on all sides of the political and economic divide, and highlights interventions made by the UK government to put the economy on hold, so that when the pandemic has passed the economy can be brought back to life.