Brexit: Two Years Later

Mark Crawford

As the deadline for the U.K.’s exit from the European Union looms, uncertainty still clouds the possible impact on the photonics market.

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When the Brexit storm struck, after the United Kingdom’s June 2016 referendum vote to leave the European Union (E.U.), the decision brought wide concern on the potential impact on European industry, including photonics. Business leaders worried about financial instability regarding exchange rates and stock values, about difficulty obtaining financing, and about potential reductions in R&D and capital spending. For scientific and industrial research in particular, significant concerns revolved around the issue of recruiting talent—for example, if the U.K. restricted work visas, or if companies left the U.K. to relocate in the E.U. for greater stability, how would that affect the U.K. and E.U. industrial ecosystems?

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