Brexit: The lowdown
As the UK’s exit from Europe lingers closer, we look at exactly what Brexit is and the important facts surrounding it.
Following from the UK’s decision to leave the EU in 2016, the UK Conservative government has been going through extensive negotiations with the EU, in the lead up to the UK’s exit on Friday 29th March 2019 at 11pm (GMT).
After the UK exits the EU, there shall be a ‘transition period’ until 31st December 2020, in which will allow businesses and so forth to adjust to the coming ‘post-Brexit rules’ that will be established between the UK and EU. Thus, any trade deals made by the UK within this period shall not be enforced until 1st January 2021.
In the lead up to Brexit, two more important dates should be recognised; for instance, 18th October 2018 is when the EU Summit shall take place, in which both the UK and EU will agree to outline any future relations between them. This will then be followed by a second EU summit on 13th December 2018, in which should allow both sides to come to further agreement.
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