No Deal Brexit: Issues, Impacts and Implications
NONO DEAL BREXIT ISSUES, IMPACTS, IMPLICATIONS NO DEAL BREXIT: ISSUES, IMPACTS, IMPLICATIONS Foreword By law, the UK will leave the European Union at 11pm UK time on 31 October. This situation could, of course, change. The British government could decide to revoke Article 50 altogether. Alternatively, if the UK makes otheran request, the European Council, acting unanimously, could agree to another extension of the Article 50 process. As we saw in April, the European Council will ultimately determine the length of any such extension. But, qually,e the UK Government is not bound to accept any extension offered by the EU. At the time of writing, however, it is hard to imagine circumstances in which Boris Johnson would either revoke or request an extension. There still remains the possibility that parliament might attempt to prevent a no deal outcome, which we discuss in our recent Endgame Report. Yet for the moment a no deal outcome remains a real possibility, and one for which both the UK and the EU will need to prepare. If the UK leaves the EU without a Withdrawal Agreement, it will become a ‘third country’ – that is, no longer a Member State - with respect to the EU as of 11pm UK time on 31 October 2019. EU law will cease to apply to the UK from that moment onwards. In what follows, we attempt to draw together what we know to assess what no deal means, how prepared we (and the EU) are, what the impacts might be, and the broader implications. There is much we do not, and indeed cannot, know about these issues but, given the centrality of the no deal debate, it is clear that this should not prevent people from considering what it might mean for the country.
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