We are now just one month away from the UK’s Brexit deadline on 29th March.
Confidence has slumped among business owners, with a deal still yet to be agreed in Parliament.
However this week the Prime Minister, Theresa May, clearly laid out the following steps and key dates in the build up to the big day.
In this blog, we’ll go into detail about what happens between now and the Brexit deadline on March 29th.
Tuesday 12th March: Theresa’s Deal
In less than 2 weeks, on March 12th, Theresa May will finish liaising with the European Union and put forward her revised withdrawal agreement to the UK parliament.
It’ll be up to Theresa May to convince MPs that this Brexit deal is the best that the UK will be able to negotiate and persuade them to vote in favour of her deal.
If MP’s vote in favour of the deal, it’ll be passed before the deadline and the UK will leave the EU with a deal in place that MPs are happy with.
If MP’s vote to reject Theresa May’s deal the following will happen…
Wednesday 13th March: No-Deal Brexit
If Theresa May’s Brexit deal is rejected in Parliament it will lead to another vote the following day.
The vote this time however, will be whether MPs are willing to support a No-Deal Brexit.
If MPs vote in favour of this proposal, it would mean that the UK will leave the EU with no deal in place on March 29th.
The Prime Minister believes that should this happen the UK would ‘ultimately make a success of a No-Deal Brexit’ however it would cause ‘very serious challenges’ in the short term.
If MPs vote against a No-Deal Brexit, then there will be one final vote a day later.
Thursday 14th March: Extending Article 50
The final vote would be for MPs to decide whether to extend Article 50 and give the UK more time to negotiate a better deal with the European Union.
The Prime Minister expects this extension to be a one off, and if MP’s were to vote in favour of this, then Theresa May would probably have until the end of June to negotiate further.
Her reasoning for this estimate is due to the European Union holding their own elections, and they would likely not want the UK to be involved in this voting process.
If MP’s were to reject this vote to extend Article 50, the UK would be forced into a No-Deal Brexit, and leave the European Union on March 29th without a deal in place.
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