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Great Britain has always held a unique place in the European Union. The most developed sectors of of its economy are manufacturing industiries: foodstuff industry, tobacco and smoked substances industry, printing industries, and light industry (Lea, 2016). The fastest growing sectors of the economy are chemical, timber, furniture, rubber, and plastics industries. Within the chemical industry, the pharmaceutical industry has become particularly active. Food and light industry, as well as mechanical engineering in general, work below average. However, Great Britain stands out in agriculture among European countries in that in this sector of the economy it employs less than two percent of the population. The dominant and most numerous nation of Britain are the British, whose number exceeds 45 million (Lea, 2016). The ethnic composition of the population of the UK is quite variegated for European states. The paper describes the economic situation in the Great Britain, prospects and further development without membership. Keywords: Great Britain, European Union, economy. Research Great Britain is a highly developed industrial country; it occupies an important place in the world economy. The main features of Britain economy are independence, integration into the world economic system, and a moderate level of development. In terms of conditions for economic development, the UK always insisted on being quite liberal. Its exit from the EU will just make democracy stronger, as the parliament will become totally sovereign. Britain will not be subject to jurisdiction of European laws and system any more (Dhingra & Sampson, 2016).The paper argues that the UK today and after the disintegration of the European Union will represent a country with highly developed, strong and independent economy because its withdrawal from the European Union will mean an economic reorientation. It will open new opportunities; in particular, will create one of the most powerful global civilization geopolitical and geo-economic centers around Great Britain. UK Leaving Europe: Sequences and Impact Nowadays, the UK is the most powerful international financial center. It cannot be a simple European country, mostly because it is not a continental country. Also, for many years Great Britain and the European Union have been at odds over a large number of issues in various fields, especially in the economic sphere. The sequences of Britain’s withdrawal from the EU may be different (Lea, 2016). For instance, the United Kingdom’s Independence Party wants to introduce a work permit system according to which people from the European Union will be subject to the same restrictions as representatives of the other countries. This will reduce population growth, allow the British to get jobs, lead to higher wages, and also facilitate the work of schools, hospitals and other similar institutions (Lea, 2016). Britain will be also able to finish off the mutual operating agreements with states with quickly growing economies. One of the main impacts of this is that the process of detachment of the Central European countries may start, as the formation of the Baltic Sea group of states. The British management has always seen the EU as a significant tool for moving out its overseas policy goals (Chowla, 2014). In the deficiency of the EU system of government and its numerous rules, little and medium-sized enterprises will flourish, which will show the way to enlarged employment, since they are more flexible than other organizations that deal with other countries. With the extraction from the EU, the UK will have to restore trade agreements with the EU states and other countries (Lea, 2016). It will be able to finish bilateral economical agreements with countries with quickly growing economies, for instance, with China, Singapore, Brazil, and India. The main consequences of leaving the EU for Britain is that will regain control over economic and social policies in its own interests. It is worth noting about the sequence of events that occurred after the referendum. The first thing that happened was the resignation of the British European Commissioner Baron Hill (Lea, 2016). After this event, within the framework of the European Council summit in Brussels, the flag of Great Britain descended before the European Commission. David Cameron, the head of the Cabinet, decided to leave his post. In February 2017, MPs, in the Parliament voted for the bill on the withdrawal of the UK from the EU (Lea, 2016). In March 2017, British Prime Minister Theresa May announced the beginning of the procedure for the UK's withdrawal from the EU. In April, she announced early parliamentary elections. After that, the representative of the European Commission Margaritis Shinas said that the current negotiations on the withdrawal of the UK from the EU will begin in the summer of 2017 (Lea, 2016). The negotiations on the withdrawal of Britain from the European Union will last for about two years and the country can leave the EU only in March 2019 (Lea, 2016). The work on two agreements will proceed. The first agreement is on the withdrawal of the UK from the EU. the second, equally important agreement will determine the future format of relations between the EU and Britain. Impacts of Quantitative Easing In Britain, the quantitative easing program was in effect for some time (Lea, 2016). The Bank of England bought funds from financial institutions, and also collected a few high-quality promissory notes issued by some private companies, insurance, and banks. In the UK, everything was done to please investors and private business and thus attract more and more capital (Kelly, 2014).The side effect in this matter was for investors who switched to shares, exciting additional interest, increasing their price and making consumption more encouraging. Quantitative easing in Great Britain has allowed reducing the role of international banks to keep their interest rates within reasonable limits. In 2012, it was estimated that quantitative easing brought significant benefits to agriculture (Kelly, 2014). It played an important role in building the economic development of the UK. Quantitative easing contributed to taking further steps for the future economy not as a member country of the European Union. Brexit and its Effect (Current and Future) In June, 2016 the UK held a referendum, which determined whether it should stay in the European Union or leave it. This event was called ‘Brexit’ (Van Reenen, 2016). It should be noted that the extraction of the European second major economy could lead to the breakdown of the European Union. Britain has always occupied a unique place in the European Union. This is mostly due to its geographical location. Great Britain is separated from the continent and is located on the British Isles. It is theoretically intolerable for it that the European Union is built on a federal principle (Lea, 2016). The adverse effect of Brexit is that there is a threat for the UK that Scotland will hold a referendum on its independence from Great Britain. Allowing for the future effect of the UK exit from the EU, the conclusion of a fresh operate agreement between Britain and the 27 states members of the European Union, so that British organizations can continue selling their goods on the European market without encountering higher tariffs and other limitations (Van Reenen, 2016). This will let it maintain close economical relations with the EU states. It should be noted that the current effect of Brexit is that after the discharge of the World Bank the UK will enter a free economical agreement, under which the country will get out of the authority of the European Court of Justice, it will be issue to the right of free of charge movement of citizens in Europe. Since at the moment the legislation of Great Britain and the EU are in full conformity, it will be comparatively easy to bring such an agreement to a close . It should be noted that ton leaving the EU, Great Britain may mislay its significance as a globe economic center (Van Reenen, 2016). The United States and Japan are the most significant trading partners of the UK, and Japanese companies often choose it as their base in Europe. Other East Asian developing countries with an export-oriented economy are actively participating in the open trade market of the United Kingdom. Thus, Great Britain actively cooperates not only with member countries of the Commonwealth, but with other countries of Europe, Asia, and North America. However, becoming totally independent from the EU restrictions, Great Britain can become one of the largest economic powers. After ‘Brexit’, the EU is trailing one of its most competent armed powers in Europe and one of the minority EU countries. Thus, of course, the withdrawal of Britain from the EU can, on the one hand, be positive; however, there is a negative collision for both Britain and the EU itself. The membership in the EU implies having common market. This implies integration, including free association of goods, works, and services, capital, labor resources. The withdrawal of the UK from the EU implies for the country the loss of such privileges, an increase in customs duties. In a few cases, it will be needed to create individual organizations from scratch, since the state will have to finish a fresh trade agreement with 27 EU countries. The fallout and consequences of the referendum are diverse. Further development and cooperation between Britain and the EU depends on general agreements.