Yesterday, 52% of British voters decided their country should leave the European Union. British leaders still must decide if they will honor the vote, but if they do, Britain will begin a long, multiyear process of renegotiating financial and political agreements with its world partners. This is Brexit.
To many young Americans, Brexit may be little more than a catchy phrase you feel like you need to know, but it’s time to get informed. Britain leaving the European Union will have massive global economic, social, and political repercussions. Already, David Cameron has resigned as U.K prime minister, and European leaders are holding crisis meetings.
Brexit has also caused an immediate massive upheaval of the global financial market. As people rush to put their money into stable assets, like Gold, the stock market is suffering. Panic has also caused the value of the pound to take a nosedive. The pound is currently the weakest it has been in 31 years (meaning it now requires fewer dollars to get a British pound).
If you’re wondering exactly how all of this will affect you, I unfortunately can’t give you a great answer. While we know that things will change drastically, we can only still only speculate on the long-term impact of Brexit.
So now that I have officially scared you into getting informed, I’d like to focus on some more short-term positives of Brexit. Because the pound is so weak, British goods have become relatively cheaper. Not only does this mean its a wonderful time to travel to the UK, but it also means British imports will drop in price – and five percent of all British imports are food and beverages. Here are some goodies that may become cheaper over the next few weeks because of Brexit.
The UK is our fifth largest source of imported fish. We get large amounts of farm-raised salmon from them (which isn’t as bad for you as you think). Thanks to Brexit, you may now be able to make Salmon Crème Fraîche Dip without breaking the bank.
Stop settling for crappy beer because you can’t afford any better. The UK is our sixth largest source of imported beer. You can expect to see the price of British made beers, like Newcastle, fall over the next couple of weeks.
If beer isn’t your alcoholic beverage of choice, don’t worry because the UK is our second largest importer of liquors and liqueurs. Also, regardless of where they are made, British owned brands, like Smirnoff and Stella Artois, may also become cheaper. But before you go crazy with the liquor, just make sure you know what you’re doing.
Since the UK is our sixth largest source of imported cheese, we may see certain artisanal cheeses drop in price. So now is the time to gain some cheese knowledge and make every kind of grilled cheese possible.
Okay, not ALL candy will drop in price, but it will certainly become cheaper to get your hands on British candies. The UK just does candy better. From Cadbury creme eggs to Areo bars, now is the time to hunt down and stock up on whatever British candy you can find. Trust me, you’ll need something sweet to comfort you when you’re stressed about how Brexit will change the global landscape forever.