Since the thought of Brexit was first floated to the general public , there has been much debate on its economic impact on all sectors of the united kingdom economy. Expert forecasts of ‘doom and gloom’ are written off by politicians and pubgoers alike as ‘scaremongering’, but what has been the truth for the united kingdom telecoms industry so far?
Analysis performed by Catax on UK Office of National Statistics (ONS) data has shown that the UK’s telecoms industry has earned 40% more from its European investment than it did before the referendum.
The industry earned £1.8 billion from EU investments in 2015, which since has increased to £2.5 billion in 2018. It should be noted, however, that this figure is down in comparison to the 2017 figure, which reached a peak of £3.5 billion.
The analysis itself seems to celebrate this finding as evidence that Brexit won't be as harmful as predicted.
For the past few years we’ve heard horror stories about what would happen to the united kingdom following the vote to go away the EU.
Against many people’s expectations, the telecoms industry has taken the chance to truly grow its investment positions on the continent.
says Catax chief executive, Mark Tighe.
However, the boost could indicate that Europe is just a more profitable marketplace for UK telecoms businesses, which the united kingdom industry has simply made wise European investments within the wake of Brexit uncertainty.
Brexit itself has yet to happen, therefore the true weight of industry disruption won't be felt until 2021.
For customers, the most disruption are going to be roaming charges, which the govt has recently indicated that it'll reintroduce in 2021. However, the four major operators have mercifully suggested that they need no plans to charge their customers roaming fees, a minimum of for now.
Shadrach is a Trending Journalist. His first job was as a newsreader and journalist at an award winning magazine. He spends most of his time scouring the internet for the hottest topics to share with his readers.