BREXIT is combination of two words, Britain + Exit.

Exit from
European Union. So, what is European Union exactly?
European union is a union of 30 european countries whose
headquarter is in Brussel , Belgium. The purpose of forming
such a union was to keep the european countries united and to
develop together. The benefits that every european countries
was getting was that they can do trade in any of these countries
without paying any tax, just like single market and also the
people can travel to any of these countries without taking any
visa and they can work there and live there. This was the main
problem which Britain was facing. Being the most developed
country of the union large number of people were settling there
and was creating unemployment for the locals. In 2016 then
prime minister Mr. David Cameron took public opinion in which
51.9% of the people voted for BREXIT. This led to protests in
Britain and Mr. Cameron had to resign from his post because
he was against leaving European union. After him Mrs. Theresa
May took the charge of prime minister and took a decision to
exit from european union in 2017. After that the european union
gave two years of time to Britain to decide on the terms and
conditions for leaving the union. Theresa May had 3 choices.
First, to make a hard deal with european union which means
that people will require visa to travel to and from Britain and
Britain will get concession in trade tax in European market, but
this deal was rejected by European union. Second choice was
that Britain will imply immigration policy but will trade in
European market without paying any taxes just like before.
European union agreed to this but on one condition that people
from European countries can travel to Britain without taking any
visa. So, Theresa May chose the 3rd option means No deal at
all. On this option the european union gave one condition that
Northern Ireland which is under control of Britain will remain as
an integral part of European Union. But the parliament of Britain
didn't support Theresa May as many thought that leaving
European union could lead to collapse of Britain’s economy.
Then in 2019 Mr. Boris Johnson came to power with a single
motto that was to leave the european union. He made few
changes in the deal made by Theresa May like Norther Ireland
will remain a part of european union for a period of 4 years and
no immigration policy will be implied till dec 2020. Finally in
January 2020 , Britain exits from European Union.

To conclude my speech I think that Britain was not able to

crack a good deal with european union as european union
made it sure to not give any good deal so that in future other
countries will not dare to do something like this and Britain may
also face conflict in future from the other countries due to the
changes made in trading policy.

Thank you.