More than two years ago now, the citizens of the UK voted to leave the EU. Since then, negotiations have failed to produce a concrete result about what type of deal the UK will leave with, which has even caused speculation whether Britain will exit with no deal.
A “no deal” Brexit means that the UK would leave the EU without any withdrawal agreement, meaning there would be no 21 month transition period in which businesses, consumers and public bodies could adjust to life outside the EU. But what does this mean for British and EU citizens?
- Trade: Britain would no longer abide to the EU trading rules and thus would be subject to the EU’s external tariffs under the WTO rules on trade. What this means for consumers is that prices of goods and services could increase due to these tariffs. As for manufacturers, they may move their businesses abroad as they would no longer receive the benefits that the EU brings to their enterprise.
- Students: without the EU, Britain would no longer receive the EU’s research funding for universities and UK students may no longer be able to participate in youth schemes like Erasmus+. Similarly, EU students would now have to pay the international fees as opposed to EU fees, which are significantly lower.
- Immigration: Britain would be free to set its own laws on immigration of EU nationals and vice versa, causing longer delays at passport controls as well as increased difficulty to get into the UK as a visa is needed. Additionally, the ability for UK citizens to reside within the EU without a visa could end and vice versa.
- Laws: Britain would no longer have to abide to EU laws, although it would be bound to the European Court of Human Rights, which is a non-EU body. Consequently, they could form their own rules according to their wishes.
- Money: Britain would no longer have to pay its annual fee of £13 billion to the EU budget but this also means it would no longer receive some vital EU subsidies, for example the Common Agriculture Policy which gives £3 billion to farmers. Therefore, some sectors would be under increasing constraints without funding.
Images Obtained From:
https://www.fnlondon.com/articles/government-must-prepare-for-no-deal-br…
https://www.independent.co.uk/travel/news-and-advice/british-tourists-eu…
https://www.cio.co.uk/opinion/legal-briefing/enemies-of-people-english-l…