fall in productivity, low investments in technology, effects of fiscal austerity and low wage growth and mainly due to the uncertainty over Brexit issue.
In the coming years, there will be an impact on the UK’s economy due to Brexit. However, it also depends on the trading deals and policies UK will make in future to fight with such challenges.

The Royal Institute of British Architects (RIBA) proposed five challenges and five opportunities faced by UK after the referendum to leave EU. RIBA is an organisation which has made a policy document which offers solution to the UK government and focuses on how architecture’s contribution can help in the growth of the economy.

FIVE CHALLENGES:

1. As UK has one of the world class architectural sector, government must emphasize on the open market promotion, at home and abroad. It is easier to get finance for business especially for the small and medium size enterprises.
2. As architecture is a skill full and innovative profession so the government must ensure to maintain the creative sectors.
3. UK and EU should maintain and arrange mutual agreements for the Architects in other large markets
4. UK must sustain affordable EU product supply and ability to specify product standardisation.
5. Research funding should be retained more than ever for assuring access to high quality education which will play a vital role in the success of UK’s economy with respect to the skill gaps in the construction and design industry.

FIVE OPPORTUNITIES:

1. Mould new research and commercial partnerships by proposing better and new trade agreements. The government should mould the new agreements which could result in the betterment and the UK tradesmen can add value by investing in Asian countries who are experiencing rapid urban growth in infrastructure investments.
2. To strengthen the UK economy, the government should ensure that the spending on UK’s rail, road, air and telecom networks should be made in order to match the world class infrastructure.
3. To gain advantage in EU and overseas the government should also negotiate and focus on the exchange of educational qualifications with its key partner countries.
4. Government should make sure that the policies should be designed in such a way that should benefit the small and medium size enterprises in the public sector.
5. To bring down costs and to meet standards the government should use value added tax flexibility to increase construction.