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Brexit negotiations have seen mixed reception recently, as Parliamentary leaders talk rejection and EU leaders accept Theresa May’s bill. There have been many questions surrounding the big exit, set to come in March 2019, one of which surrounds expats living abroad. A large number of British expats live in Spain, especially Gibraltar, which has been a hot subject for Spanish Prime Minister Pedro Sanchez. He has been pushing for ownership of the territory, but it is other prospective effects which could scare away expats.

Will Brits leave Spain? According to Spain’s National Statistics Institute (INE), the number of British expats in Spain is dwindling, and future exodus' lie on the horizon. In the last five years alone, the number of British residents in Spain has dropped by 157,107. Recent research from financial consultants deVere Group has found people are reluctant to leave the country despite the excellent quality of life. James Greene, deVere divisional manager for Western Europe, expanded on the reasons people are leaving and why they shouldn’t. READ MORE: Moving abroad could boost annual income

Brexit news: Will Brits LEAVE Spain as Brexit looms? Why they should stay behind REVEALED

He said: “As Brexit fears, uncertainty and doubt begin to bite deeper, a growing number of British expats in Spain are reluctantly considering moving back to the UK. “The ‘pull factors’ that attracted them to Spain in the first place – such as the more relaxed, family-orientated, more outdoors lifestyle, the weather, great schools, and work opportunities – remain in tact. “As do the ‘push factors – such as UK’s cost of living, high taxes, low interest rates, the scrapping of some age-related benefits, quality of life, crime concerns and the weather – that encouraged them to relocate. “This is why it’s so sad. Brexit concerns are potentially forcing them to give up their dreams of living in Spain.” READ MORE: Nigel Farage BREAKS DOWN as expat tells of EU treatment

Spanish Prime Minister Pedro Pascal is hoping for a deal around Gibraltar

Mr Greene cited pound devaluation fears as the main reason for expats fleeing the country. He says: “Of the 300,000 UK nationals officially living in Spain, almost half are over 65. “A further drop in the pound – which has received a monumental bloody nose since the Brexit vote – would be a serious issue for those who receive UK pensions or income in pounds as the cost of living would be considerably more expensive. “Then there’s the risk that existing payments from British companies, including pension and insurance companies, to those living within the European Economic Area (EEA) could be disrupted. Of course, this would be a major inconvenience to many UK expats.” READ MORE: Expat pension WARNING as Brexit looms

British expats could flee Gibraltar as a result of Brexit