Concurrence of Covid-۱۹ & Brexit on Britain's economy under the light of neo-functionalist constructivism

In the threshold of ۲۰۲۱, the British economy was adversely affected by the obligatory lockdown for national quarantine during the post-Brexit pandemic. Nonetheless, this trend seems to be more optimistic for the next quarter and the volume of employment and trade will increase. It is apparent that the supply of vaccines and restrictions reduction program expected to be effective, and eventually activities in the consumer-related services sector will be enhanced as well. In the current research, the privileges of a Job Retention Scheme and a set of business support measures regarded to ensure the structure of the economy; under the banner of deconstruction and the elimination of restrictions, economic activity could be boosted as much as before. Nevertheless, Office for Budget Responsibility anticipates that unemployment will be higher by ۲۰۲۴ than before the Pandemic. Therefore, the gradual elimination of the extensive job retention plan could be essential in creating an opportunity for economic recovery. While the goal of the Extensive Job Protection Plan and other supportive policies is to maintain the structure of the economy, there will be inevitable changes in economic activity in industries, jobs and regions. Policies should support employees and companies in transitioning from these conditions to changing economic conditions, especially in cases where potential productivity gains are achieved while minimizing the damage caused by unemployment and bankruptcy for companies. In addition to the pandemic, Brexit has increasingly altered the economic conditions of British companies. UK trade has plummeted in ۲۰۲۱, with the present study providing evidence that Brexit has played a role, and a significant proportion of companies trading with the EU encounter predicaments such as border delays and heavy administrative expenditures. The UK government must advocate businesses in the transition to new business relationships and ensure that cross-border costs are minimized. On the basis of neo-functionalist constructivism as its building stone theory, the current research aims at brainstorming the idea that politics with a problem-solving strategy as an exit- way out of this chaos can flourish profitable jobs by diminishing some economic pressures at this time, such as the severe economic crisis caused by the pandemic. The key issue is to ensure that employees can benefit from economic growth and productivity gains, and that companies have access to the necessary skills. Evidence from previous economic shocks suggests that individuals who stay in jobs or industries affected by the shock suffer the most, while those who can relocate on other industries can lessen some of the negative effects. Moreover, training programs and adjustment assistance could help facilitate such transitions.

Keywords:

Brexit , British economy , Covid-۱۹ , European Union , job retention scheme , neo-functional constructivism