The U.K.’s economic problems are caused by its no longer having access to the economies of scale and global financial markets it had during its imperial age before the ending of the Second World War in 1945 and the independence of British colonial possessions in the decades after the war.
These caused economic and financial problems for the United Kingdom because the U.K.’s economic problems were caused by no longer having access to the world’s greatest land and maritime empire, which fuelled the U.K.’s economy and financial services.
It was because of the U.K.’s economic problems that it sought under Harold Macmillan, UK Prime Minister, in the late 1950s and 1960s to join the European Union, which was then called the European coal and steel community and then later the European economic area which England joined in 1973 under Edward Heath Conservative government.
When the United Kingdom joined the European economic community, according to Peter Zeihan, a writer and a geopolitical consultant, “it was as if the United Kingdom had its empire again”.
This means that the United Kingdom now had access to financial and investment markets that could replace and did replace the equivalent of the old Empire built in the 18th and 19th centuries.
With the United Kingdom leaving the European Union in 2020, it became official in 2021 as the cause of the U.K.’s economic problems because it does not have the trading power and access to financial markets it had before the UK left the European Union.
The repeated failures of the David Cameron government, Theresa May government, Boris Johnson government and the new Liz Trust government have only left the financial markets in disarray.
Due to repeated Conservative governments and most probably any future Labour governments have failed to chart a financial future for the United Kingdom in the next few decades.
It is the inability’s probably more accurately unwillingness for governments to handle the hard issues such as immigration and national identity that is festering problems in all corners of the United Kingdom.
Which is further going to weaken the U.K.’s economic problems because, without stability, businesses and investors looking for capital will look to more stable investment and financial markets in other places of the world like Dubai and New York.
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