What’s Going On Now

 

The British Government triggered Article 50 on 29 March 2017. This kick starts the formal process of leaving the EU. According to this law, unless a delay is agreed, Britain will leave the EU on 29 March 2019, with or without a deal.

What’s all this about a deal?

Ideally, we need to agree the terms on which we are leaving. We do owe a small sum for the present financial arrangements that we have already committed to. However, the EU is demanding much larger sums as an exit fee. The UK is the second largest contributor to EU funds, so our departure will leave a very large financial hole for the likes of Germany to fill.

The rights of the 3 million EU citizens in the UK can readily be secured but there are serious questions about the 1 million British citizens living elsewhere in the EU. Finally the EU wishes to try to control Northern Ireland by making unhelpful demands about border controls.

We wish to agree a free trade deal with the EU but so far the EU is making the issues above the precursors to agreeing any trade deal

So what’s the EU Withdrawal Bill?

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!

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