Economy

Everything You Need to Know About Brexit

City of London with a UK and EU flag symbolizing Brexit

Are you feeling lost over Brexit? You’re not alone! Some of us don’t know what will happen when Britain leaves the EU, and some don’t even know what Brexit is! Here’s everything you should know.

What is Brexit?

Brexit is the phrase used for Britain’s exit from the EU, which is happening very soon. In 2016, the British public voted to leave the European Union and become independent of their laws. The UK became a member of the EU in 1973, which meant it had trade and travel agreements with all countries who gained membership.

Why Does the UK Want to Leave the EU?

There were many reasons people voted to leave the EU, including immigration and control over our own laws. The leave vote was 52%, while remain voters ranked at 48% of the public. This left many outraged about the decision to leave the EU and many protests have taken place since this time.

What is the Brexit Withdrawal Agreement?

Brexit negotiations were headed up by Prime Minister Theresa May, and they haven’t exactly gone smoothly. The biggest priority has been to secure a good “divorce deal”, but disagreements between the UK and EU have made things very difficult. Some of the most important issues in the divorce agreement are:

  • How Brexit will affect UK and EU citizens living in each other’s countries.
  • How to avoid a border between Northern Ireland and the Republic of Ireland.
  • The amount of money the UK has to pay the EU when leaving.

Theresa May headed up the negotiations for a withdrawal agreement, which went to a vote. Unfortunately, the vote was rejected by a huge majority, leaving us more uncertain about Britain’s future than ever.

What are the Next Steps in the Brexit Negotiations?

The only option Theresa May has is to try to get the EU to make changes to the withdrawal agreement. This is unlikely, as the EU has made it clear they aren’t willing to renegotiate any further. However, politicians have campaigned for one important amendment to the deal.

Most of the amendments were rejected by politicians, but they did agree that there should be alternative arrangements for the Northern Irish Backstop. The amendment was welcomed by Theresa May and the conservative party, which means steps will be taken to avoid a hard border.

Is the UK Definitely Leaving the EU?

So, there are many questions people have, but the biggest one is “Will we really leave?”. On March 29th 2019, the UK is set to leave the EU. However, there is no certainty that this will happen. Brexit could be cancelled without any repercussions, which is something lots of remain voters are hoping for.

Hard Brexit – What If the UK Leaves Without a Brexit Deal?

If we leave the EU without a deal, then there will be no transition period. All relationships with the EU will cease to exist and Britain will be left to fend for itself. This is a big worry for businesses and the public in general.

There isn’t much time to make plans, but the government is working to ensure a no-deal Brexit won’t be too disruptive. With only little time to go, the public is anxiously waiting for news about their future.

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