As mentioned in the last article about Brexit, we knew that if Boris Johnson, the prime minister of UK, failed to convince the EU to renegotiate the withdrawal agreement on 31st October 2019, he said the UK must leave the EU on 31 October 2019 with “no-deal”. This meant the UK would leave the customs union and the single market- an arrangement designed to trade between EU nations by abolishing checks and taxes on goods- immediately, which may have damaged their economy critically. However, after another of the numerous extensions that they have requested, it is once again delayed until 31st January 2020.
If they do end up leaving on that date, the UK will enter a transition period which is the time during which they would continue to follow all rules and regulations from the EU, as well as paying the same amount of money into the EU budget. The transition period was due to be lasting until December 2020, but under the terms of the withdrawal agreement, it could be extended for another year or two. However, the government said it will no longer ask for an extension. This is because even though an extension might bring the advantage of a soft landing in which there would be no sudden changes to the economy straight away, and London would be given time to start negotiating for the future relationship between the UK and EU, the government would have to follow the rules and regulations established by the European Commission.
So what about the future? In order to negotiate a free-trade deal, it usually takes years to do so, but the UK and the EU were only given a few months. The withdrawal agreement states that the UK would have to make the decision by 1st July 2020 whether to extend the transition period. This means that they are given about 5 months to negotiate a trade deal, which is not enough.
The Conservatives are now promoting the slogan “Get Brexit Done” which suggests a quick and easy path for leaving the EU, as well as allowing the UK to focus on other important things. But it is certainly not easy. Some are arguing that healing the division could be an alternative solution. It seems like Brexit is a never-ending story.
Written by Jade Yang