What’s Next for Brexit?

Brexit Introduction

The December elections brought with it good tidings for Boris Johnson, a proponent of Brexit. It ensured that his party had the parliamentary majority. His regime would, therefore, push for a raft of laws that would set the stage for Brexit. This happened in January and Brexit’s latest news is that Britain subsequently withdrew from the European Union on January 31st. At present, the status of Brexit is that it has not entirely taken place since Britain is in a transition period. This fact begs the question, what’s next for Brexit? In this article, we seek to answer it by highlighting what is bound to take place over the next year.

Brexit Explained

Brexit’s history started with a referendum held in June 2016 where 52% of the voters voted to leave the EU. That translated to 17.4 million Britons. As such, Brexit definition is that the word is the short-form of British Exit which denotes the act of the United Kingdom leaving the EU after joining the block in 1973. The 2016 vote heralded a series of events that culminated in the UK formally leaving on January 31st, 2020. It is worth noting that Brexit would have happened sooner but negotiations regarding the approach that should be taken delayed the process.

The Brexit vote was held during Daay replaced him. She purposed to shepherd the UK through Brexit and negotiated withdrawvid Cameron’s reign as the Prime Minister. Following the success of the Leave vote, he resigned from the position and Theresa Mal deals. It is noteworthy that the Brexit date was initially 29th March 2019. However, the Members of Parliament continuously rejected some sections of the negotiation deal for which May’s government had bargained. The most controversial clause was the backstop. 

It had been designed to make sure that there would not be a border between the Republic of Ireland and Northern Ireland when Brexit happened. Under Boris’ leadership, this clause was removed creating a border. Proponents of the removal opined that it would enable the UK to negotiate favourable trade deals with other countries. Notably, other sections of the Brexit withdrawal agreement that May’s government negotiated remained.

Given that the UK formally withdrew on January 31st, 2020 (Brexit day), the transition period that May negotiated comes in handy. It is supposed to run until December 31st, 2020, an 11-month window. So, what now? What is Brexit’s current status? What is the latest Brexit news?

The UK now is in a state of confusion. As such, the future can be termed as uncertain which necessitated the inclusion of the transition period as part of the withdrawal deal. Within this period, the future UK-EU relationship will be discussed. 

Some Important Aspects Of The Negotiations Include:

  • Trade agreement which would do away with the requirement for UK goods to have a tariff surcharge. Failure to come to an agreement will mean that tariffs will be levied on UK goods and the UK will also face additional trade constraints.
  • Electricity and gas supply.
  • Access to fishing grounds in the greater EU waters.
  • Aviation safety regulations and standards.
  • Law enforcement practices and data security and licensing and regulation of medicine.

It is worth pointing out that the UK is in a dilemma. By negotiating, the UK will be seeking either autonomy or alignment with the existing EU rules and regulations. The former will give the country control but, on the downside, it will make trading between the UK and EU countries harder. The latter will allow for more trade but will limit the amount of control that the country has. Besides the dilemma attached to the negotiations, Brexit has proven more disastrous than it has been beneficial. We look at the pros and cons of Brexit.

Pros of Brexit

Cons of Brexit

  1. Autonomy and sovereignty: The UK will no longer have to align itself with the EU standards. It would have control over its domestic matters.
  2. Cost-saving: The UK will no longer pay a membership fee. For instance, in 2016, the UK made a contribution of £13.1 billion to the block and received £4.5 billion, translating to negative cash flow. By leaving, the UK will save money.
  3. It would limit immigration, thereby putting an end to strained resources since the UK was facing difficulty in providing housing and delivering services. The UK would gain control of its borders and decide to whom it would give access.
  4. It would increase free trade. Statistically, the majority of Britain’s exports go to non-EU countries with only 44% going to the EU. This is taken to mean that the EU’s
  1. Job losses: After Brexit, many large companies have been threatening to leave the country and relocate their businesses elsewhere. Investments by foreign companies will, therefore, reduce since major cities in the UK will not be viewed as gateways to the larger EU bloc.
  2. The lack of free movement implies that Britons cannot go to other countries to look for better opportunities.
  3. Trade barriers: if the trade negotiations fail, tariffs will be levied on UK goods, thereby making them expensive.
  4. The uncertainty surrounding Brexit has resulted in slower economic growth. According to government estimates, the move would lower the UK’s growth by 6.7% over the course of 15 years. This is only considering that the country will arrive at a trade agreement. The situation could be worse if there is a failure. The figure is as great as 9%. Slowed economic growth, combined with trade and immigration restrictions are bound to have a serious effect on the finances of Britons.

Brexit Latest News Conclusion

UK citizens voted to leave the European Union in 2016 setting the stage for events and negotiations that culminated in Brexit day. Brexit day was January 31st, 2020 and it was the day the UK formally left the EU (Brexit definition). Upon leaving, the UK entered a transition period that Theresa May had negotiated as part of the withdrawal deal. Within this period, which constitutes Brexit’s current status, the UK is expected to negotiate favourable terms that will favour the exit from the EU in a way that will not adversely affect its economy. As such, further negotiations with the EU and other trading partners outside the EU are expected. This is because the government intends to set up independent policies that are not reliant on what the EU dictates.

Brexit is in full swing thanks to the December 2019 elections. The elections gave Boris Johnson’s party the majority seats in parliament. As such, the legislators voted on the clauses that set the stage for the UK leaving the EU. The country left the bloc on January 31st, 2020 and is presently in a transition period that is expected to last until December 31st, 2020. Within this period, the UK and the EU will be undertaking negotiations that will define their relationship post-Brexit.

Brexit is a portmanteau, combining Britain and exit. It is a term whose meaning is Britain leaving the European Union. Brexit started with a referendum held in 2016 in which a majority of the voters voted to leave the bloc.

Britain formally left the EU on January 31st, 2020. There is no turning back. As such, Brexit happened and the government is in the process of negotiating favourable deals that will avert the adverse effects of the move on the UK economy.

Negotiations. The transition period which started on 1st February 2020 will set the stage for what the relationship between the UK and the EU will be. The latest news is that there is nothing concrete that has been arrived at from the ongoing negotiations. As such, there is an air of uncertainty surrounding Brexit which has affected the UK economy.

Brexit live news today is that the EU parliament is set to vote on a motion that will define the grounds on which the negotiations will take. The vote will be held in the second week of February and is said to limit any advantage that the UK may have. Proponents are advocating for an association agreement.

Britain formally left the EU on January 31st, 2020 and entered a transition period that will end on December 31st, 2020.

Negotiations. Britain will be looking to cushion itself from the effects of the move by holding talks on trade and whether it should abide by the EU rules and regulations

 In light of the exit, Britain has held talks with several countries since it aims to shape its trade policy. The UK and Canada have already reached an informal UK-Canada agreement that will be based on the Canada-EU trade agreement called CETA. Britain plans to use CETA as a template to form the UK-EU trade deal. However, the UK-EU agreement is the first priority but it is yet to be completed. Observers are of the view that the Canada-UK agreement should be considered next because of the benefits Canada brings to the country in the form of trade and investments.

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