The Negative Effects of Brexit: International Companies Leaving UK
On Wednesday, January 23rd, the British government acknowledged that Brexit “scares away” large companies and therefore they are forced to move their offices out of the country. For example, Sony has transferred its European head office to the Netherlands.
Only two months left before the breakdown of a forty six-year relationship between the UK and the European Union. At the same time, International Trade Secretary Liam Fox said that the country is open to international business.
It is worth noting that last year, tech-giant company Panasonic also transferred its European offices from London. While the UK loses large companies, such European Union member countries like France, Germany, Ireland, Luxembourg and the Netherlands only benefit from the moving of large businesses to other European destinations.