Uks brexit transition plans released
On November 14, 2018, the UK government released its long-awaited Brexit transition plan, which outlines the country's plans for leaving the European Union (EU) and transitioning to a new relationship with the bloc. Here are the key points from the plan:
Transition Period:
- The transition period will last from March 29, 2019 (the original Brexit date) to December 31, 2020.
- During this period, the UK will remain in the EU's customs union and single market, with some exceptions.
- The UK will continue to follow EU rules and regulations, but will have no say in their creation.
Key Objectives:
- To ensure a smooth and orderly exit from the EU.
- To maintain the UK's economic and financial stability.
- To protect the rights of EU citizens living in the UK and UK citizens living in the EU.
- To maintain the UK's security and defense relationships with the EU.
Key Proposals:
- The UK will continue to participate in EU agencies and programs, such as the European Medicines Agency and the European Aviation Safety Agency.
- The UK will maintain its membership in the World Trade Organization (WTO) and other international organizations.
- The UK will establish a new relationship with the EU on trade, security, and other areas.
- The UK will establish a new system for regulating goods and services, including a new customs regime.
Key Challenges:
- The transition period will require significant changes to UK laws and regulations.
- The UK will need to negotiate new trade agreements with the EU and other countries.
- The UK will need to establish new relationships with international organizations and agencies.
- The UK will need to manage the impact of Brexit on its economy, including potential changes to trade, investment, and employment.
Next Steps:
- The UK government will work with the EU to finalize the transition agreement.
- The UK parliament will need to approve the transition agreement.
- The UK government will establish a new department, the Department for Exiting the European Union, to oversee the Brexit process.
Overall, the UK's Brexit transition plan aims to provide a smooth and orderly exit from the EU, while also protecting the country's economic and financial stability. However, the plan also highlights the significant challenges that lie ahead, including the need for new trade agreements and the impact of Brexit on the UK's economy.