Bu siness skills: b et ter me etings 1 — 21 business englisch bu sin es s e n g L is

aerate sth.
[(eEreIt]
,
etw. belüften;
hier:
auflockern
encroach
,
vordringen
extinction
,
Aussterben, Ausrottung
sea cucumber
[(kju:kVmbE]
,
Seegurke

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14 
Business Spotlight
1/2021
TRENDS
Brexit: a good 
deal for Britain?
HEAD-TO-HEAD
Will the UK be better
off outside the EU?
Am 31. Dezember 2020 endet nun auch die Übergangsphase für den Brexit.
Wird es dem Vereinigten Königreich wirtschaftlich dann besser gehen?
Experten sind da geteilter Meinung.
Interviews: JULIAN EARWAKER
ADVANCED 
 AUDIO PLUS

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15 
1/2021
Business Spotlight
TRENDS
Illus
tr
ation: V
ec
torMine
/iS
to
ck
.com; F
ot
os: priv
at
Leaving the European Union 
improves the UK’s ability to 
grow into the new global econ-
omy. We already see the trend 
of economic success outside 
the EU. UK exports to the EU 
have fallen to 43 per cent of 
total exports; that figure was 
nearly 50 per cent a few years 
ago. GDP in the European Union is growing at a much slower 
rate than the global average.
At the moment, only between five and eight per cent of UK 
businesses trade with the EU. But the 92 per cent or more UK 
businesses that don’t trade with the EU must still follow all EU 
directives and regulations. Outside the EU, the UK can be a hub 
of innovation. Global exports of technology and agriculture will 
expand rapidly. Fintech groups based in the UK are already find-
ing new trading relationships. 
Covid-19 is a far bigger threat to our economy than Brexit, 
but our ability to recover will be greater away from the EU, as 
leaving will lessen the red tape restricting some businesses at 
the moment. The government will be able to give targeted sup-
port to industry, for example by developing free ports, ensuring 
that business taxes are reduced in some areas, removing barriers 
to business start-ups and implementing a better immigration 
system.
Within the EU, the UK has to follow a trading agenda in line 
with 27 other countries. Outside, we are free to negotiate indi-
vidual agreements to suit our specific economic interests. Talks 
between the UK and the US are already progressing well. Our 
recent trade deal with Japan goes further than the one agreed by 
the EU, with more flexibility and reduced tariffs on agricultural 
exports to Japan. 
The UK is still one of the biggest economies in the world. The 
City of London will remain the headquarters of the European 
financial services sector. We’re not going to stop trading with 
European nations. Will some barriers arise from the UK leaving 
the EU? We expect so. This comes with change — a change that 
is certainly worthwhile, considering the benefits of reclaiming 
sovereignty and the principles of Brexit.