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ORIGINAL RESEARCH article

Front. Polit. Sci.
Sec. International Studies
Volume 6 - 2024 | doi: 10.3389/fpos.2024.1467452

POTENTIAL IMPACT OF THE 2024 UK PARLIAMENTARY ELECTIONS: THE LONG SHADOW OF BREXIT

Provisionally accepted
Petar Kurecic Petar Kurecic *Filip Kokotovic Filip Kokotovic
  • University North, Koprivnica, Croatia

The final, formatted version of the article will be published soon.

    Despite the relative harmony of the Western states on essential security issues, the July 2024 parliamentary elections in the United Kingdom (the UK), ending with the overwhelming victory of the Labour Party, who has returned to power after 14 years, may have a significant impact on the relationship this country has with the European Union (the EU). Since Brexit, the diminished trade has contributed to a decline in the economy of the United Kingdom and it is one of the countries most significantly impacted by the "increasing cost of living'' crisis. With inflation running far more rampant than in their EU counterparts, finding a balanced relationship with the EU should be one of the priorities for the post-Brexit United Kingdom. Using an Impulse Response Function (IRF), this paper will assess the impact of a further decline of EU--UK relations as well as the policy implications of some proposals supported by significant fractions of the Conservative Party, namely tax cuts. The paper concludes that a further decline in trade relations between the EU and the UK will lead to a further decline in the economy of the UK that has few feasible alternatives in terms of trading partners.

    Keywords: Brexit, inflation, The cost of living, 2024 UK Parliamentary Elections, trade regimes

    Received: 19 Jul 2024; Accepted: 16 Sep 2024.

    Copyright: © 2024 Kurecic and Kokotovic. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

    * Correspondence: Petar Kurecic, University North, Koprivnica, Croatia

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