Brexit latest: What does the draft bill mean?
The news is awash with speculation and resignations following the announcement of Theresa May’s draft Brexit bill, which has since been approved by the Cabinet. But what does it all mean for the sign and print industries?
Friday, 16 Nov 2018 16:03 GMT
The draft proposal for Britain’s withdrawal from the EU has been voted through by the Cabinet
The hefty 585-page proposed agreement is the result of 18 months of negotiations with the European Union (EU) on the terms of Britain’s exit. It is however, still only a draft, which many have already spoken out against.
May announced that she had backing of her Cabinet on Wednesday evening (November 14th) and since then two members have resigned, including Brexit minister Dominic Raab. The pound dropped on Thursday (November 15th) as much as two percent against the dollar to $1.28 but has since risen by around 0.4 percent.
So, what does the deal mean and why are people so angry about it? The fear is that the new deal does not mean Brexit, instead it locks the UK in a continued relationship with the EU until 2020. Effectively, if the bill is voted through by MPs, it would see the UK in a single customs territory from March 2019 until December 2020.
Effectively, if the bill is voted through by MPs, it would see the UK in a single customs territory from March 2019 until December 2020”
The UK will continue to apply EU law during this transition, but it will be outside of the EU’s political institutions. EU trade policy will still apply, but the UK cannot enforce any trade agreements until the transition period ends.
The issue of the Northern Irish border is addressed by keeping Northern Ireland in the same customs territory as the UK and EU if no future agreement is made. This “backstop” as it is referred to, has been proposed as a safety net to avoid a hard border regardless of the outcome of future trade talks.
This has upset a lot of people who do not want to be tied to EU customs rules. May has said she does not want to have to use the backstop at all by coming up with alternative arrangements for a trade deal, which must be decided by January 2021.
The draft bill has to be approved by MPs and then the 27 EU member states, whilst May battles letters of no confidence in her leadership. The Labour Party has called for the Prime Minister to outline a contingency plan that will avoid a no-deal Brexit if the bill fails.
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