Phone Us

Brexit Process To Start in March 2017

UK Prime Minister, Theresa May, has said she will trigger article 50, the clause that needs to be activated to start the process to leave the EU, by the end of March 2017.

UK Prime Minister, Theresa May, has said she will trigger article 50, the clause that needs to be activated to start the process to leave the EU, by the end of March 2017.

The process to leave will take approximately two years, meaning Britain is most likely to leave the EU by summer 2019. The PM is now hoping to start preparatory work with the EU to make the transition smoother, once the article is triggered.


As a part of leaving the union, Mrs May has promised that in the next Queen’s Speech there will be a ‘Great Repeal Bill’, which would remove the 1972 treaty and transform all EU laws into British law, enabling parliament to amend them.


Mrs May also said to achieve economic success Britain must look further than Europe and claimed that eight nations, including China, India and Singapore, are prepared to sign major trade deals with the UK.


As a result of the decision announced over the weekend, the pound was down by approximately 1% against both the Euro and the Dollar on Monday morning. However, the value of the pound picked up some against both currencies later in the day, but remained lower than it’s been for over a year.


The news about Brexit followed last week’s report regarding the Prime Minister's commitment to backing business growth across northern cities in the UK to boost their economic potential.

X
Cookies on our website:
This website uses cookies.
I'm OK with this Cookie Settings ?