Financial & Legal News

Brexit and your Business

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Yesterday was the day when we could have been leaving the European Union and UK business activity affected forever. Instead, we now have Brexmas when the United Kingdom will be having a general election on 12 December.

So how will the General Election affect aspects of law and policy making?

The current government has stalled on ‘getting Brexit done’ for so long as the majority have been avoiding a No Deal exit.  We’ve had readings from MPs for the Withdrawal Agreement Bill but recently the House of Commons for the first time in three years, since the 2016 referendum, voted positively in respect of Brexit.   Until now the majority have been avoiding No Deal, but then there hasn’t been a positive version of a Deal either.

Many people will see the general election as a way of breaking the Brexit deadlock in parliament and possibly finding a resolution to this issue.  There is a lot more at stake on this result than what happens with Brexit.

“Since the referendum, the government have put key domestic, economic and social policy issues on the back burner. Many of our clients are concerned and frustrated by the ongoing uncertainty and the lack of decision making,” said Christopher Burke, Commercial Partner, Pearson Solicitors and Financial Advisers.

End of parliament as we know it

The people may have voted for Brexit in 2016 but also voted in 2017 for it to be delivered by a hung parliament.  Did people get their vote wrong in 2017?  Should the 2016 vote be revisited too?  All questions that lawyers have debated over again.  However, nobody can foresee the result of this general election but at the same time the strong elements of this current parliament will not be in place.  We will have a new government to take this forward.

Time for a new parliament

A new parliament is needed to take a fresh look at Brexit and ask if the current Deal is still appropriate.

We will watch the outcome of the general election on 12 December with interest.  Will the Conservatives have a majority or will the new government support a further referendum or will it be revoked?

Could this be the last chance for those who wanted to remain?

We have been kept in the dark for so long and as lawyers we have been trying to keep up to date daily with what’s happening in order to advise our clients.

It is anticipated that the following areas of law are likely to be affected in the long term by Brexit: although it is likely that there will be a transitionary period following exit day (31 January 2020) – unless extended further, where EU law will continue to apply until at least 31 December 2020.

Pearson’s have specialist solicitors and financial advisers who can advise and assist you with any concerns you may have in the majority of the above areas.

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.

Written by Christopher Burke


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