The European Union (Notification of Withdrawal) Bill has now completed its passage through both Houses of Parliament and, under Article 50(2) of the Treaty on European Union, gives the Prime Minister the power to notify the European Council of the UK’s intention to withdraw from the EU. With Article 50, likely to be triggered by the end of the month, allowing negotiations to start, this report by the Foreign Affairs Committee of the House of Commons looks at what would happen in the event of no deal being reached.
Some of the implications discussed in the report are:
- Disputes over the cost of exiting the EU
- Uncertainty for EU citizens in the UK and UK citizens in the EU
- Trading on World Trade Organisation terms
- The ‘regulatory gap’ and the limitations of the Great Repeal Bill
- Uncertainty for UK participation in the EU’s common foreign and security policy
- The sudden return of a ‘hard’ customs border between Northern Ireland and the Republic of Ireland
The full report is available here
More information about the European Union (Notification of Withdrawal) Bill is available here.