Breaking Down Brexit

You may have heard the term ‘Brexit’ floating around over recent years, and perhaps even more so now. The concept can seem slightly daunting and quite the grey area for many people, as this neologism holds so many implications for the world, deeper than just its definition.

Brexit is a portmanteau of ‘British Exit' and indicates the United Kingdom’s departure from the European Union (EU). The EU is a one of a kind political and economic alliance between 27 countries spanning most of the continent of Europe. The UK joined the EU on 1st January 1973 gaining all of the benefits that the league had to offer. Amongst these profits there was: the promise of greater security and opportunities for businesses, more choice and stable prices for consumers, a further integrated financial system, and of course a clear indication of European identity. Why then might the UK want to leave this advantageous association?

Some of the influences of wanting to leave the EU included: sovereignty, immigration, the economy, and the new found discussion of anti-establishment politics. It was in this sense that the European Union membership referendum took place on 23rd June 2016, becoming one of the most significant political events of the 21st century. On this date, the British public voted on the matter of leaving the EU with 51.9% of the population in favour of leaving and the other 48.1% voting to stay within the trading bloc. The UK officially left the trading bloc in January 2020 but it had been agreed that things would remain the same until 31st December 2020, which is why all of a sudden this topic of discussion has been rekindled.

On 24th December 2020, British Prime Minister Boris Johnson officially announced that the UK had struck a trade deal with the EU and commented that “This European question’s been going on for decades. I think this gives us the platform, the foundation for a really prosperous new relationship.”

The important question now is, what comes next? Both sides had to come to a set of agreements that didn't benefit one more than the other. This includes, standardisation of some workers’ rights and certain environmental and social regulations. Freedom to work and live between the UK and the EU has, unfortunately, ended, and in 2021, UK nationals will need a visa if they want to stay in the EU more than 90 days within a 180-day period. Now that Britain is no longer a part of the EU, they are allowed to set their own trade policy and can openly negotiate deals with other countries. These negotiations have already begun with the USA, Australia and New Zealand - all countries that currently don't have free trade deals with the EU. There may not be new taxes to pay at the border but there will be new paperwork which has the potential to cause delays, serving as a concern for UK nationals. William Bain from the British Retail Consortium says that "This is the biggest imposition of red tape that businesses have had to deal with in 50 years,".

Currently, the UK and EU have agreed to some identical rules, but they don't necessarily have to be identical in the future. If one side choses to take an exception to these changes, they can cause a dispute, which may lead to tariffs being imposed on some goods in the future. It is safe to say that we can expect the threat of disputes to be a new constant in UK-EU relations. With this unprecedented departure, the UK is the first and only country to formally leave the EU after 47 years. The rules laid out by the British government and EU officials may act as a double edged sword. On one hand, the UK has the independence to set their own trade laws and make decisions about the kingdom, solely within the kingdom. However, this may put a permanent strain on UK-EU relations. All we can do is anxiously await further updates and remain spectators.

Charlotte Rodney 12E