The purpose of the Bill is to transfer all EU laws and regulations into U.K. law, and over time, repeal those that no longer suit us. The Bill also repeals the European Community Act, 1972, and all subsequent Acts from the EU.
If we leave the EU with no deal, a hard Brexit will make the Withdrawal Bill redundant. Government can simply withdraw from the EU Treaties by notifying the Vienna Convention of Treaties. HMG can then transpose back into U.K. law those few EU directives that suit us, and jettison the rest. Economist Patrick Minford reported recently that the U.K. economy stands to gain £640 billion from a hard Brexit. So why wait? Let’s leave now!
– Sir William Jaffray