The UK’s vote to leave the European Union unleashed an unprecedented wave of political and economic change spread far beyond Britain’s shores. From European capitals now courting London businesses to questions for Britain’s global trading partners – risks and opportunities that simply did not exist prior to 23 June 2016. Through KPMG’s Global Brexit Centre of Excellence, we bring a global perspective to help ensure that businesses take the impacts and experience from various parts of the world into account when planning for the new normal of geopolitical risks and opportunities.
Our Brexit Basics series is aimed at demystifying the Brexit debate and bringing attention to what is most relevant for global businesses, governments and institutions.
In this second edition, we put focus on the so-called Four Freedoms – which will remain part of the Brexit debate as we move closer to Article 50 being evoked later this year. “Brexit means Brexit”. The UK plans on leaving the EU – and with it, rescinding its membership of the Single Market and the EU customs union. No longer bound by the Four Freedoms, this ‘Brexit’ will mean a change to the relationship between not only the EU and the UK, but also the trading arrangements between the UK and the rest of the world. So how will the free movement of goods, services, capital and people change post-Brexit? In this edition, Brexit is examined through the lens of the Four Freedoms – what this will look like for businesses globally post-Brexit and what you should be thinking about in your Brexit planning.