What will happen after March 29 2019?
Theresa May officially triggered Article 50 on March 29, after which there is a two-year time limit set for negotiations to hammer out the details.
The UK will therefore leave the EU by March 29, 2019, although there is a 21-month “transition period”.
Negotiations began on June 19, with the two chief negotiators, Michel Barnier of the EU and former Brexit Secretary David Davis, immediately setting off to find common ground.
Some of the “uncertainties” being discussed include citizens living in each other’s territory, border arrangements between Ireland and the UK and the amount Britain stands to pay to honour its existing EU commitments.
Britain is nearing the final straight of Brexit.
At 11pm local time on March 29 2019,
the UK is scheduled to leave the bloc.
But still to be decided is what precisely will happen on Brexit day,
what kind of deal, if any,
Britain will leave with and the final destination of the negotiations.
This is a bridging agreement between the current situation – where we are members of the EU – and our long-term relationship outside the bloc.
Also known as an “implementation phase”, it allows for the UK to keep some of the same arrangements with Brussels on trade and other matters until a new comprehensive trade agreement is sealed.
In March 2018, Britain secured a transition deal that will also allow ministers to seek trade agreements around the globe.
The UK will also be free to set its own foreign policy as soon as Brexit happens, as well as negotiate and sign new trade deals anywhere in the world – to implement them in 2021.
However EU chiefs made it clear the period, which allows the UK to stay in the Single Market and Customs Union, will only come into force if the Irish border is sorted.
Former Brexit Secretary David Davis and EU chief negotiator Michel Barnier unveiled terms for the 21 month period interim period.
The UK will not be fully out of the EU until December 31, 2020 – four and a half years after the historic referendum decision.
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