The draft Withdrawal Agreement and Political Declaration on the future relationship have now been formally approved by the EU. The next step is the UK parliamentary vote on the deal scheduled for 11th December 2018. As it stands, we do not have certainty that the proposed terms will be approved, so no deal remains a possibility.
Businesses need to look at the political agreement carefully. While this is one less hurdle to clear, and it gives a general direction of travel, there’s still no clarity on services and a range of technical points. There is still a long way to go before the political agreement becomes a comprehensive trade agreement. Companies will need to maintain their vigilance in planning for a range of all possible scenarios, even if ultimately they’re not needed.
In our Brexit update, set out below, we summarise the key points for business in the draft Withdrawal Agreement and Political Declaration.
With Brexit negotiations at an impasse, talk of no deal remains a hot topic.
With so much noise around Brexit and continued uncertainty on the exit terms and the nature of the future relationship with the EU, it can be hard to determine where companies should be focussing their efforts.
We’ve heard a lot about technology in the context of Brexit. A new trading relationship with the EU will likely require government and it’s agencies, and business, to grapple with significant changes to systems and processes.
As Westminster heads off for summer recess after a frenetic few weeks, our feet can finally touch the ground as we consider the Brexit developments since the European Council summit at the end of June.
As we approach what could be one of the defining milestones in the Brexit journey with a special meeting of the Cabinet at Chequers this week at which the Prime Minster hopes to secure backing for the negotiating position, it feels timely to reflect on where we find ourselves more than two years on from the referendum.
This time next year, the UK will officially leave the EU. In the 641 days since the country went to the polls, it has been hard to avoid the B word - as politicians – both here and in the EU, business leaders and the public have clamoured to have a say on what the terms of exit should be and what the future relationship with the EU should look like.
Sitting in the House of Commons to talk about the impact of Brexit is not my typical Tuesday afternoon. But last month I was invited to do just that with the All Party Parliamentary Group for Responsible Tax, alongside MPs Nicky Morgan and Frank Field, as well former HMRC official Judith Knott.